Allstate Reports Blowout Q2 Results

Allstate

released its fiscal second-quarter earnings results after the closing bell on Tuesday. The company reported net income of $423 million or $0.86 per share, compared to a net loss of $624 million, or $1.19 per share, in the year ago period. Operating income in the quarter was $432 million or $0.87 per share, compared to a loss of $647 million or $1.24 per share, in the year ago period. This easily exceed analysts' consensus EPS estimates of $0.51. Revenues in the quarter were $8.28 billion from $8.08 billion last year. This also came in way ahead of Street consensus revenue estimates of $6.82 billion. In Tuesday's after hours trading session, ALL shares had risen nearly 4% to $35.65.