Principal Financial Group Inc. reported second-quarter earnings of $216.3 million, down from $229 million a year earlier. The company was hurt by lower operating earnings from its retirement and investor services segment, Reuters reported.
Second-quarter net income fell from $217.3 million, or 67 cents per share, last year to $173.1 million, or 58 cents per share. Operating earnings, which excludes investment losses and gains, hit 72 cents per share for second quarter 2012.
Operating revenues rose slightly to $2.14 million, compared with $2.10 million for the same period last year. Assets under management were $367.1 billion, up 9 percent compared with the year-ago quarter.