Prudential Financial, a diversified US financial conglomerate net income has boosted by 182% to $2.2bn for the second quarter of 2012, against a net income of $779m during the year ago quarter.
For the latest quarter period, its net income per common share was $4.64 compared to $1.58 during the same period a year ago.
After-tax adjusted operating income for the Financial Services Businesses stood at $627m, or $1.34 per common share for the second quarter of 2012, up by 19% agaisnt $773m, or $1.57 in the year-ago quarter.
Prudential Financial chairman and chief executive officer John Strangfeld said while challenging market conditions and unfavorable claims fluctuations affected second quarter results, underlying performance remains solid in each of its divisions.
"Our international businesses continue to perform well, with exceptional sales and earnings in the second quarter. Our balanced mix of businesses and risks mitigates our exposure to market developments, and we remain confident in our ability to achieve our long term objectives," Strangfeld added.
For the quarter period ended 30 June 2012, its US Retirement Solutions and Investment Management division reported adjusted operating income of $302m, with a decline of 100% compared to $605m during the same period a year ago.
The US Individual Life and Group Insurance division reported adjusted operating income of $107m, down by 40% from $184m in the year-ago quarter.
The International Insurance segment reported adjusted operating income of $681m for the second quarter of 2012, with an increase of 36% compared to $500m during the same period earlier year.
Corporate and Other operations resulted in a loss, on an adjusted operating income basis, of $261m in the current quarter period, against a loss of $237m in the year-ago quarter.
