NORTHBROOK, Ill. (AP) — NORTHBROOK, Ill. (AP) — Allstate Corp. (ALL) on Wednesday reported first-quarter profit of $595 million.
On a per-share basis, the Northbrook, Illinois-based company said it had profit of $2.11. Earnings, adjusted for one-time gains and costs, came to $3.53 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The insurer posted revenue of $16.45 billion in the period. Its adjusted revenue was $16.8 billion.
Allstate shares have climbed roughly 3% since the beginning of the year, while the S&P's 500 index has dropped slightly more than 5%. In the final minutes of trading on Wednesday, shares hit $198.39, a rise of 17% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALL at https://www.zacks.com/ap/ALL
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.