NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Prudential Financial Inc. (PRU) on Wednesday reported first-quarter net income of $707 million.
On a per-share basis, the Newark, New Jersey-based company said it had net income of $1.96. Earnings, adjusted for non-recurring costs, came to $3.29 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.21 per share.
The financial services company posted revenue of $13.41 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $14.53 billion.
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