NEWARK, N.J. (AP) — In a story about Prudential Financial’s quarterly results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company posted first-quarter net income of $2.78 billion. Its net income for the quarter was $2.83 billion.
NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Prudential Financial Inc. (PRU) on Tuesday reported first-quarter net income of $2.83 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Newark, New Jersey-based company said it had net income of $6.98. Earnings, adjusted for non-recurring gains, came to $4.11 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.68 per share.
The financial services company posted revenue of $14.22 billion in the period.
Prudential shares have climbed 30% since the beginning of the year, while the S&P’s 500 index has increased 11%. In the final minutes of trading on Tuesday, shares hit $101.67, a rise of 73% in the last 12 months.
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