Credit: Shutterstock photoPrudential Financial ( PRU ) reported mixed quarterly results for the first quarter Wednesday. The company reported revenues of $11.3 billion during the quarter, which beat consensus estimates of $11.2 billion but were short of the $11.8 billion reported a year ago.
Prudential earns a major chunk of its operating income from outside the U.S., with Japan contributing a significant portion of those revenues. During the first quarter, operating income from the segment decreased 7% y-o-y to $779 million, owing to a 5% increase in expenses, claims and benefits which offset a 3% rise in revenues.
In the U.S. market, Prudential's retirement division's operating income before taxes declined by 30% y-o-y to $712 million in Q1 2016. This resulted from a 16% y-o-y decline in revenues due to lower premiums earned and lower investment income. 
Have more questions about Prudential? See the links below:
- By How Much Did Prudential's Revenue & EBT Grow In The Last Five Years?
- How Has Prudential's Revenue Composition Changed In The Last Five Years?
- What Is Prudential's Revenue And EBT Breakdown By Operating Segments?
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