Filed Under:Life Insurance, Life Planning Strategies

Prudential reports $1.1 billion profit, exceeding estimates

Prudential Financial's operating earnings were $2.49 a share, 14 cents more than the average estimate of analysts.
Prudential Financial's operating earnings were $2.49 a share, 14 cents more than the average estimate of analysts.

(Bloomberg) -- Prudential Financial Inc., the No. 2 U.S. life insurer, reported second-quarter profit that beat analysts’ estimates as results improved at the company’s main units.

Operating earnings, which exclude some investments and the results of policies sold before the firm went public, were $2.49 a share, 14 cents more than the average estimate of analysts surveyed by Bloomberg. Net income was $1.09 billion, compared with a loss of $514 million a year earlier, Newark, New Jersey-based Prudential said today in a statement.

International Business

At the international business, operating profit rose to $884 million from $850 million. Prudential said in June that it had reduced annual costs by about $250 million at the business after integrating Star and Edison. Prudential also has operations in countries including South Korea and Brazil.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

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