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Principal earnings top expectations in second quarter


Associated Press: Principal Financial Group Inc. on Monday reported second-quarter profit of $3.06 billion. On a per-share basis, the Des Moines-based company said it had net income of $11.94. Earnings, adjusted for investment gains, came to $1.65 per share. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share. The financial services company posted revenue of $6.66 billion in the period. Its adjusted revenue was $3.14 billion, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.24 billion.

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