Prudential: 2Q Earnings Snapshot
NEWARK, N.J. (AP) _ Prudential Financial Inc. (PRU) on Wednesday reported second-quarter net income of $197 million.
The Newark, New Jersey-based company said it had profit of 46 cents per share. Earnings, adjusted for non-recurring costs, came to $3.01 per share.
The results fell short of 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 $13.04 billion in the period.
Prudential shares have fallen 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. In the final minutes of trading on Wednesday, shares hit $100.66, a fall of 12 percent in the last 12 months.