Prudential earnings beat expectations

05 August 2005
Insurance giant Prudential has reported better than forecast second quarter results.

The announcement lead the company to enhance its expected full year earnings. The results were attributed to strong variable annuity sales and growth from its Japanese businesses.

The US-based company's operating earnings were $570 million, or $1.13 a share, beating $501 million, or 98 cents a share, from the same period last year.

This topped many analysts' expectations, who had forecast a rise in operating earnings to just $1.08.

So far this year, the company's shares have risen by 23 per cent, standing at $67.85 on Wednesday before the earnings announcement.

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