NORTHBROOK, Ill. (AP) _ Allstate Corp. (ALL) on Wednesday reported first-quarter net income of $1.29 billion.
On a per-share basis, the Northbrook, Illinois-based company said it had profit of $3.74. Earnings, adjusted for non-recurring gains, came to $2.30 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.29 per share.
The insurer posted revenue of $10.99 billion in the period. Its adjusted revenue was $10.33 billion.
Allstate shares have risen 19% since the beginning of the year, while the Standard & Poor's 500 index has increased 17%. In the final minutes of trading on Wednesday, shares hit $98.13, decreasing slightly 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