Allstate Beats Estimates, Shares Rise (ALL)

After the closing bell on Wednesday, Allstate ALL reported Q2 net income of $145 million or $0.27 per share, compared to $389 million or $0.72 per share, in the second quarter of 2009. On an adjusted basis, which is comparable to analysts' consensus, the company reported net income of $441 million or $0.81 per share, versus $297 million or $0.72 per share, in the year ago period. This beat analysts' estimates of $0.69. Revenues were down 9.8% year over year to $7.66 billion, but were well ahead of Wall Street expectations of $6.61 billion. In the after hours trading session, ALL shares have gained 1.36% to $29.00.