Prudential: 2Q Earnings Snapshot
Posted August 4, 2020 5:29 pm.
Last Updated August 4, 2020 5:38 pm.
This article is more than 5 years old.
NEWARK, N.J. (AP) _ Prudential Financial Inc. (PRU) on Tuesday reported a second-quarter loss of $2.42 billion, after reporting a profit in the same period a year earlier.
The Newark, New Jersey-based company said it had a loss of $6.12 per share. Earnings, adjusted for non-recurring costs, came to $1.85 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The financial services company posted revenue of $13.08 billion in the period.
Prudential shares have dropped 32% since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 2%. In the final minutes of trading on Tuesday, shares hit $63.28, a decline of 26% 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
The Associated Press
