Prudential Financial Q1 Earnings Drop 23%

(RTTNews) - Prudential Financial (PRU) announced a profit for first quarter that lost ground compared to the same period last year.

The company said its earnings totaled $1.00 billion, or $2.18 per share. This was down from $1.30 billion, or $2.79 per share, in last year's first quarter.

Analysts had expected the company to earn $2.37 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.4% to $11.29 billion. This was down from $11.81 billion last year.

Prudential Financial earnings at a glance:

-Earnings (Q1): $1.00 Bln. vs. $1.30 Bln. last year. -Earnings Decline (Y-o-Y): -23.1% -EPS (Q1): $2.18 vs. $2.79 last year. -EPS Decline (Y-o-Y): -21.9% -Analysts Estimate: $2.37 -Revenue (Q1): $11.29 Bln vs. $11.81 Bln last year. -Revenue Change (Y-o-Y): -4.4%