Prudential Q4 Profit Misses Estimate

(RTTNews) - Prudential Financial, Inc. (PRU) reported a net loss for its Financial Services Businesses for fourth quarter of $1.2 billion or $2.69 per share, compared to a net loss of $427 million or $0.94 per share for the year-ago quarter.

The latest quarter net loss includes a charge of $1.590 billion or $3.42 per share from foreign currency exchange rate remeasurement.

Adjusted operating income for the Financial Services Businesses for the fourth quarter was $1.01 billion or $2.12 per share, compared to $1.05 billion or $2.20 per share in the prior year quarter.

Total Financial Services Businesses revenue rose to $15.83 billion in the fourth quarter from $10.98 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $2.38 per share on revenue of $12.46 billion for the fourth quarter. Analysts' estimates typically exclude special items.