Prudential Financial Posts Strong Earnings Beat (PRU)

Prudential Financial, Inc. PRU reports Q2 earnings of $1.51 versus estimates of $1.32. Prudential Financial, Inc. reports Q2 revenues of $8.74 billion versus estimates of $7.28 billion. Revenues increased 38.7% year over year. "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,” said Chairman and Chief Executive Officer John Strangfeld. He added, “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," Shares of PRU are higher in the after-hours by 3.60%.