Allstate Reports Blowout Earnings; Stock Rises (ALL)

Allstate Corp. ALL released its first quarter earnings results on Wednesday after the closing bell. The company reported non-GAAP net income of $497 million or $0.93 per share, compared to $375 million or $0.69 per share in the year ago period. This compared to Wall Street consensus EPS estimates of $0.68. Revenues were up 4.5% to $8.10 billion versus $7.75 billion in last year's corresponding quarter. This beat analysts' consensus revenue estimates of $6.23 billion by a wide margin. In the after hours trading session, ALL shares have risen 3.63% to $33.10.