DES MOINES, Iowa (AP) — DES MOINES, Iowa (AP) — Principal Financial Group Inc. (PFG) on Thursday reported first-quarter profit of $532.5 million.
The Des Moines, Iowa-based company said it had profit of $2.22 per share. Earnings, adjusted for investment gains, came to $1.65 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The financial services company posted revenue of $4.05 billion in the period. Its adjusted revenue was $3.8 billion, beating Street forecasts. Six analysts surveyed by Zacks expected $3.68 billion.
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