Markets

Prudential’s Q2 Profit Slips, but Adjusted Net Beats View (PRU)

Insurance and investment firm Prudential Financial, Inc. ( PRU ) on Thursday posted better-than-expected second quarter earnings results.

The Newark, NJ-based company reported second quarter adjusted net income, which strips out one-time items and tax effects, of $831 million, or $1.68 per share. That number compares with $798 million, or $1.70 per share, in the year-ago period. Excluding even more items, adjusted profit was $1.71 per share.

Total Financial Services Business revenue rose 32% from last year to $10.15 billion.

On average, Wall Street analysts expected a smaller profit of $1.55 per share on lower revenue of $9.61 billion.

Prudential shares rose 43 cents, or +0.8%, in premarket trading Thursday.

The Bottom Line

Shares of Prudential ( PRU ) have a 2.02% dividend yield, based on last night's closing stock price of $57.07. The stock has technical support in the $51-$54 price area. If the shares can firm up, we see overhead resistance around the $60-$62 price levels.

Prudential Financial, Inc. ( PRU ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

PRU

Other Topics

Stocks

Latest Markets Videos