ET 17:12

ALL: Q4 Earnings Exceed Expectations, Shares Rise

[Para 1: The Lead] Allstate Corp. (ALL) reported a significant fourth-quarter earnings snapshot, exceeding Wall Street forecasts. The company posted earnings of $14.31 per share, adjusted for non-recurring gains, surpassing analysts' average estimate of $9.82 per share. Shares of ALL climbed 8.5% to $207.12 in the final trading minutes of the day. [Para 2-3: Supporting details & Context] Revenue for the quarter was $17.27 billion, slightly below the expected $17.52 billion. For the full year, Allstate reported a profit of $38.06 per share on revenue of $67.85 billion. Despite the slight decline in shares since the start of the year, the market reaction to the strong earnings report indicates positive investor sentiment. The S&P 500 index has seen a 0.5% increase over the same period.

EditorWong Mei Ling