DES MOINES, Iowa (AP) _ Principal Financial Group Inc. (PFG) on Monday reported second-quarter net income of $398.3 million.
On a per-share basis, the Des Moines, Iowa-based company said it had net income of $1.45. Earnings, adjusted for investment costs, were $1.46 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The financial services company posted revenue of $3.11 billion in the period. Its adjusted revenue was $3.18 billion.
Principal Financial shares have fallen 19% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Monday, shares hit $44.71, a fall of 26% in the last 12 months.