Prudential Financial (NYSE:PRU) reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Prudential (NYSE:PUK) Financial announced earnings per share of $2.32 on revenue of $13.33B. Analysts polled by anticipated EPS of $2.78 on revenue of $14.18B. That with comparison to EPS of $3 on revenue of $13.65B in the same period a year before. Prudential Financial had reported EPS of $2.33 on revenue of $17.45B in the previous quarter. Analysts are expecting EPS of $2.67 and revenue of $13.7B in the upcoming quarter.
Prudential Financial shares are down 37.33% from the beginning of the year , still down 43.27% from its 52 week high of $103.56 set on July 29, 2019. They are under-performing the S&P 500 which is down 11.6% year to date.
Prudential Financial shares lost 2.96% in after-hours trade following the report.
Prudential Financial follows other major Financial sector earnings this month
Prudential Financial's report follows an earnings missed by Berkshire Hathaway on Saturday, who reported EPS of $3608.56 on revenue of $26.06B, compared to forecasts EPS of $3777.89 on revenue of $63.31B.
JPMorgan had missed expectations on April 14 with first quarter EPS of $0.78 on revenue of $29.07B, compared to forecast for EPS of $1.87 on revenue of $29.54B.
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