NORTHBROOK, Ill. (AP) 鈥� NORTHBROOK, Ill. (AP) 鈥� Allstate Corp. (ALL) on Wednesday reported second-quarter net income of $3.27 billion.
On a per-share basis, the Northbrook, Illinois-based company said it had profit of $12.51. Earnings, adjusted for non-recurring gains, were $8.99 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $5.76 per share.
The insurer posted revenue of $18.6 billion in the period. Its adjusted revenue was $17.54 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $17.73 billion.
Allstate shares have risen 27% since the beginning of the year, while the S&P’s 500 index has climbed 13%. In the final minutes of trading on Wednesday, shares hit $263.89, a rise of 28% in the last 12 months.
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