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Prudential: 3Q Earnings Snapshot

November 7, 2018

NEWARK, N.J. (AP) _ Prudential Financial Inc. (PRU) on Wednesday reported third-quarter profit of $1.67 billion.

On a per-share basis, the Newark, New Jersey-based company said it had net income of $3.90. Earnings, adjusted for non-recurring gains, came to $3.15 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.14 per share.

The financial services company posted revenue of $14.43 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $13.51 billion.

Prudential shares have decreased 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. In the final minutes of trading on Wednesday, shares hit $100.69, a fall of 10 percent in the last 12 months.

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This story was 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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