NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Prudential Financial Inc. (PRU) on Tuesday reported a loss of $57 million in its fourth quarter.
The Newark, New Jersey-based company said it had a loss of 17 cents per share. Earnings, adjusted for non-recurring costs, were $2.96 per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.28 per share.
The financial services company posted revenue of $13.01 billion in the period, also missing Street forecasts. Seven analysts surveyed by Zacks expected $14.15 billion.
For the year, the company reported profit of $2.73 billion, or $7.50 per share. Revenue was reported as $68.05 billion.
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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
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