Prudential: 3Q Earnings Snapshot
NEWARK, N.J. (AP) _ Prudential Financial Inc. (PRU) on Monday reported third-quarter profit of $1.42 billion.
On a per-share basis, the Newark, New Jersey-based company said it had net income of $3.44. Earnings, adjusted for non-recurring gains, were $3.22 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.08 per share.
The financial services company posted revenue of $12.93 billion in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $14.27 billion.
Prudential shares have increased 16% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 23%. In the final minutes of trading on Monday, shares hit $94.50, a decline of 1.5% in the last 12 months.