Allstate: Q1 Earnings Snapshot

NORTHBROOK, Ill. (AP) _ Allstate Corp. (ALL) on Wednesday reported first-quarter net income of $656 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Northbrook, Illinois-based company said it had net income of $2.24. Earnings, adjusted for non-recurring costs, came to $2.58 per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.79 per share.

The insurer posted revenue of $12.34 billion in the period. Its adjusted revenue was $12.6 billion.

Allstate shares have increased 14% since the beginning of the year, while the S&P's 500 index has fallen almost 10%. In the final minutes of trading on Wednesday, shares hit $133.68, an increase of almost 5% 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