Prudential Exceeds Estimates, Stock Rising After Hours (PRU)

Shares of Prudential Financial PRU are rising in after hours trading after the company reported EPS of $1.51 versus analysts' estimates of $1.32. Revenues from the financial services business were $8.744 billion compared to Wall Street expectations of $7.28 billion. In the after hours trading session, PRU shares have gained 3.23% to $58.54. “Our businesses performed well in the second quarter, and our results for the first half are on track toward our objectives for the year. We continue to see benefits from our enhanced competitive position in sales and net asset flows, and we are focused on growing distribution in our U.S. and international markets and building quality business that can provide appropriate returns over market cycles. While there are challenges and uncertainties ahead in the implementation of financial regulatory reform, we strongly believe that the overall goal of enhancing confidence in our financial markets and institutions, and the general principles underlying the reform efforts, are consistent with our business models and our commitment to the financial security and peace of mind of our clients that has been at the core of our business for over 130 years. We are positioned to benefit from changes in the landscape that favor strong companies with solid value propositions, and I have never been more confident in our long-term prospects,” said Chairman and Chief Executive Officer John Strangfeld.