NEWARK, N.J. (AP) — In a story Tuesday about Prudential Financial Inc.’s quarterly results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company lost 68 cents per share. It lost 70 cents per share.
A corrected version of the story is below:
Prudential: 1Q Earnings Snapshot
NEWARK, N.J. (AP) — Prudential Financial Inc. (PRU) on Tuesday reported a first-quarter loss of $271 million, after reporting a profit in the same period a year earlier.
The Newark, New Jersey-based company said it had a loss of 70 cents per share. Earnings, adjusted for non-recurring costs, were $2.32 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.84 per share.
The financial services company posted revenue of $13.33 billion in the period.
Prudential shares have decreased 37% since the beginning of the year, while the Standard & Poor’s 500 index has declined 11%. In the final minutes of trading on Tuesday, shares hit $58.75, a decline of 42% in the last 12 months.
Elements of this story were 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