Allstate Jumps More Than 3% After Earnings

Allstate ALL released its fiscal Q1 earnings after the closing bell on Wednesday. The company reported first-quarter net income of $766 million or $1.53 per share, compared to $524 million or $0.98 per share, in last year's corresponding quarter. On an adjusted basis, which is comparable to analysts' consensus, the company reported net income of $710 million or $1.42 per share, compared to $494 million or $0.93 per share, last year. This came in ahead of Wall Street analysts' consensus EPS estimates of $1.12. Property-liability insurance premiums earned $6.63 billion versus $6.45 billion last year. This compared to analysts' consensus revenue estimates of $6.44 billion. Including net investment income and other gains, consolidated revenue in the quarter was $8.36 billion, which compares to the $8.01 billion the company reported in the year ago quarter. In Wednesday's after hours trading session, ALL shares have risen 3.31% to $34.00.