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Prudential Financial posts billion-dollar profit

Prudential Financial Inc., the No. 2 U.S. life insurer, posted net income of $1.09 billion in the first quarter driven by results at the U.S. unit.

By Zachary Tracer | Updated on August 07, 2014
(AP Photo/Douglas C. Pizac, file)

Aug. 6 (Bloomberg) — Prudential Financial Inc., the No. 2 U.S. life insurer, posted net income of $1.09 billion in the first quarter driven by results at the U.S. unit.

The profit compares with a loss of $514 million a year earlier, Newark, New Jersey-based Prudential said today in a statement. Operating earnings, which exclude some investments and the results of policies sold before the firm went public, were $2.49 per share, beating the $2.35 average estimate of 19 analysts surveyed by Bloomberg.

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