OREANDA-NEWS. August 03, 2012. Prudential Financial, Inc. (NYSE:PRU) reported net income for its Financial Services Businesses attributable to Prudential Financial, Inc. of USD 2.203 billion (USD 4.64 per Common share) for the second quarter of 2012, compared to USD 779 million (USD 1.58 per Common share) for the year-ago quarter, reported the press-centre of Prudential.

After-tax adjusted operating income for the Financial Services Businesses was USD 627 million (USD 1.34 per Common share) for the second quarter of 2012, compared to USD 773 million (USD 1.57 per Common share) for the year-ago quarter.

Information regarding adjusted operating income, a non-GAAP measure, is provided below.

For the first half of 2012, net income for the Financial Services Businesses attributed to Prudential Financial, Inc. amounted to USD 1.215 billion (USD 2.58 per Common share) compared to USD 1.318 billion (USD 2.68 per Common share) for the first half of 2011. First half 2012 after-tax adjusted operating income for the Financial Services Businesses amounted to USD 1.368 billion (USD 2.90 per Common share) compared to USD 1.573 billion (USD 3.19 per Common share) for the first half of 2011.

The Company acquired AIG Star Life Insurance Co., Ltd. and AIG Edison Life Insurance Company on February 1, 2011. Results of the Financial Services Businesses include the results of these businesses from the date of acquisition.

“While challenging market conditions and unfavorable claims fluctuations affected second quarter results, underlying performance remains solid in each of our divisions. In our U.S. businesses, our attractive value propositions and commitment to our clients and distribution partners continue to drive strong sales and flows, especially in our retirement businesses where our leadership position was enhanced by our recent announcement of a major ground breaking pension risk transfer transaction. Our international businesses continue to perform well, with exceptional sales and earnings in the second quarter. We are continuing to grow our franchise through protection and retirement products with strong appeal to our clients and through expanding distribution. 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,” said Chairman and Chief Executive Officer John Strangfeld.

Adjusted operating income is not calculated under generally accepted accounting principles (GAAP). Information regarding adjusted operating income, a non-GAAP measure, is discussed later in this press release under “Forward-Looking Statements and Non-GAAP Measures,” and a reconciliation of adjusted operating income to the most comparable GAAP measure is provided in the tables that accompany this release.