reported third-quarter earnings that beat analysts' expectations by 2 cents a share.
The insurance company reported operating income of $537 million, or 72 cents a diluted share, excluding charges, up from $401 million, or 51 cents a share, in the same period last year. A
First Call/Thomson Financial
survey of 20 analysts produced a consensus estimate of 70 cents a share for the quarter.
Revenue rose 13.6% to $7.45 billion from $6.55 billion for the same period in 1999. The company said the growth was driven by increases in both the personal property and casualty and the life and savings business units.
Shares of Allstate were recently trading up $1.63, or 5%, to $34.31 on the
New York Stock Exchange