DES MOINES, Iowa (AP) _ Principal Financial Group Inc. (PFG) on Thursday reported first-quarter net income of $348.9 million.
On a per-share basis, the Des Moines, Iowa-based company said it had net income of $1.19. Earnings, adjusted for investment costs, were $1.27 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The financial services company posted revenue of $3.07 billion in the period.
Principal Financial shares have climbed 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 7 percent. In the final minutes of trading on Thursday, shares hit $65.18, a climb of 48 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFG at https://www.zacks.com/ap/PFG
Keywords: Principal Financial, Earnings Report