DES MOINES, Iowa (AP) — DES MOINES, Iowa (AP) — Principal Financial Group Inc. (PFG) on Monday reported fourth-quarter net income of $517 million.
On a per-share basis, the Des Moines, Iowa-based company said it had net income of $2.32. Earnings, adjusted for non-recurring gains, came to $2.19 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.23 per share.
The financial services company posted revenue of $4.58 billion in the period. Its adjusted revenue was $4.46 billion, which topped Street forecasts. Four analysts surveyed by Zacks expected $4.11 billion.
For the year, the company reported profit of $1.19 billion, or $5.25 per share. Revenue was reported as $16.06 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 PFG at https://www.zacks.com/ap/PFG
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