Prudential and Allstate Manage to Swing to Fourth-Quarter Profits
Prudential Financial

Official reports have confirmed that for the past year's final quarter, both Prudential Financial Inc.'s financial-services division and Allstate Corp. managed to swing to definite profits. But while Allstate, on one hand, managed to beat the estimated pegged by analysts, Prudential, on the other, disappointed.

For 2009's fourth-quarter, Prudential posted earnings of $1.79 Billion, or $3.79 per share, a share contrast when compared to the previous year's loss of $1.66 Billion, or $3.89 per share.

Revenue, at the financial-services business, hiked by 16%, to $6.79 Billion.

Allstate, benefitting mainly from an improvement in investment performance, posted a profit of $518 Million, or 96 a share, compared with last year's loss of $1.13 Billion, or $2.10 a share.

Revenue rose by 23% to $8.06 Billion.

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