Miss on revenue by $1 Billion & this is good news? Really?
NEW YORK (MarketWatch) -- Prudential Financial Inc. [s:pru] swung to a third-quarter profit. Net income for the financial services business was $981 million, or $2.07 a share, compared to a net loss of $627 million, or $1.34 a share, a year earlier. Revenue fell 18% to $10.8 billion, from $13.2 billion a year earlier, the insurance company said Wednesday. Analysts had expected earnings of $2.11 a share on revenue of $11.9 billion, according to FactSet. Shares in Prudential were down 0.2% in after-market trading.