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Prudential Financial reports 2Q results

July 31, 2019

NEWARK, N.J. (AP) — Prudential Financial Inc. (PRU) on Wednesday reported second-quarter net income of $708 million.

The Newark, New Jersey-based company said it had profit of $1.71 per share. Earnings, adjusted for non-recurring costs, came to $3.14 per share.

The results missed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $3.22 per share.

The financial services company posted revenue of $14.11 billion in the period, surpassing Street forecasts. Sixteen analysts surveyed by Zacks expected $13.63 billion.

Prudential shares have climbed 24% since the beginning of the year, while the S&P 500 index has climbed 19%. In the final minutes of trading on Wednesday, shares hit $101.31, increasing slightly in the last 12 months.

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This story has been corrected to show that next income was $708 million, not $706 million.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRU at https://www.zacks.com/ap/PRU

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