Prudential Financial 3Q results top Wall Street estimates |
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Wed, 31 Oct 2007 21:41
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SAN FRANCISCO (Thomson Financial) - Prudential Financial Inc. after Wednesday's closing bell reported third-quarter after-tax adjusted operating income for its financial services businesses of $905 million, or $1.97 a share, compared with $828 million, or $1.72 a share, during the year-earlier period.The company's financial services businesses consist of insurance, investment, and international insurance and investments divisions, as well as corporate and other operations.The Newark, N.J.-based company posted net earnings for its financial services businesses of $860 million, or $1.88 a share, versus $1.15 billion, or $2.38 a share, last year.The mean estimate of analysts polled by Thomson Financial was for a per-share profit of $1.73 a share.Total revenue came in at $6.66 billion, ahead of the consensus estimate of $6.53 billion. Last year, revenue was $6.06 billion.Additionally, Prudential Financial raised its outlook for 2007 based on its results for the first nine months of the year. The company said it now expects the after-tax adjusted operated income of its financial services business to range from $7.45 to $7.60 a share.The stock closed out the regular session up $1.12, or more than 1%, at $96.55.Katherine Huntkh/gmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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