Profit Climbs at Prudential

The company's earnings top analysts' estimates.
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Insurance and financial services giant

Prudential

(PRU) - Get Report

said second-quarter earnings rose from a year ago, and the company's results were ahead of Wall Street's expectations.

Earnings for Prudential's financial services businesses totaled $754 million, or $1.48 a share, for the second quarter, compared with $519 million, or $1.02 a share, a year ago.

After-tax adjusted operating income was $570 million, or $1.13 a share, up from $501 million, or 98 cents, a year ago. Second-quarter revenue totaled $5.72 billion, an increase from $5.06 billion in the year-ago period.

The company said that considering its results for the first half of the year, including the effect of any items, earnings should be $4.50 to $4.60 a share for 2005, based on the after-tax adjusted operating income of the financial services businesses.

Analysts surveyed by Thomson First Call were looking for a profit of $1.08 a share in the second quarter. The consensus earnings estimate for the full year is $4.59.