Financial Markets : Prudential Financial quarterly earnings disappoint
Prudential Financial
NEW YORK, Feb 10 (Reuters) – Prudential Financial Inc (PRU.N), the No. 2 U.S. life insurer, posted weaker-than-expected quarterly results, with at least one analyst expressing disappointment with the income from its annuity business.
Prudential posted a net profit of $1.79 billion, or $3.79 a share for the quarter, compared with a net loss of $1.66 billion, or $3.89, in the same quarter a year earlier.
Most of the company’s profit stemmed from the sale of its securities brokerage joint venture stake to Wells Fargo & Co. (WFC.N)
The company said that it is winning business from competitors as turbulent financial markets weaken many of its rivals.
read full article: UPDATE 2-Prudential quarterly earnings disappoint
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Financial Markets : Prudential Financial quarterly earnings disappoint
