Prudential reports fourth-quarter loss of $1.21 billion

MarketsAssociated Press

Prudential Financial Inc. (PRU) on Wednesday reported a loss of $1.21 billion in its fourth quarter.

On a per-share basis, the Newark, New Jersey-based company said it had a loss of $2.69. Earnings, adjusted for one-time gains and costs, were $2.12 per share.

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The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.38 per share.

The financial services company posted revenue of $14.25 billion in the period, which beat Street forecasts. Analysts expected $12.36 billion, according to Zacks.

For the year, the company reported net income of $1.53 billion, or $3.23 per share, swinging to a profit in the period. Revenue was reported as $43.52 billion.

Prudential shares have dropped 12 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased almost 1 percent. In the final minutes of trading on Wednesday, shares hit $79.89, a decline of 3 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRU at http://www.zacks.com/ap/PRU

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Keywords: Prudential, Earnings Report