Prudential Financial swings to profit in Q3

Prudential Financial has reported a net income of its financial services businesses attributable to the company of $1.09 billion, or $2.35 per diluted share, for the third quarter ended September 30, 2009, compared to a net loss of its financial services businesses attributable to the company of $118 million, or $0.25 per diluted share, for the third quarter ended September 30, 2008.

Total revenues for the third quarter of 2009 were $6.6 billion, compared to $6.35 billion for the third quarter of 2008.

Net income of financial services businesses attributable to the company for the first nine months ended September 30, 2009 was $1.62 billion, or $3.72 per diluted share, compared to $516 million, or $1.26 per diluted share, for the first nine months ended September 30, 2008.

For the first nine months ended September 30, 2009, total revenues were $20.94 billion versus $20.12 billion for the first nine-month period of 2008.

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Related terms: financial services, profit