Prudential Financial Ticks Lower on Q3 Earnings Results

Shares of Prudential Financial (NYSE: PRU) are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 2.18%, trading at $52.50; they ended the regular session higher by 4.17%, at $53.67.

Prudential Financial reported Q3 EPS of $1.07 on revenues of $9.95 billion; the Street was looking for $1.54 per share on $9.98 million in revenue. Revenues increased 27.2% year over year.

GAAP book value for Financial Services Businesses totaled $35.7 billion or $74.52 per Common share as of September 30, 2011, compared to $31.0 billion or $63.11 per Common share at December 31, 2010. Book value per Common share excluding unrealized gains and losses on investments and pension / postretirement benefits was $66.79 at September 30, 2011 compared to $59.48 at December 31, 2010.

"While our third quarter results reflect the turbulent financial markets, underlying performance of our businesses was solid. In the U.S. retirement market, we are continuing to build a base of business that can perform well across market cycles. Looking forward, we are confident that we can continue to execute our strategies successfully, and we believe our balanced mix of businesses and risks support our ability to achieve our long term objectives over a variety of market conditions," said Chairman and Chief Executive Officer John Strangfeld.

Prudential Financial, Inc. is a financial services company. It has operations in the United States, Asia, Europe and Latin America. Through its subsidiaries, it offers an array of financial products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management and real estate services.