Equitable Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 03, 2022 at 04:17 pm EDT
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Equitable Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported revenue was USD 5,168 million compared to USD 2,950 million a year ago. Net income was USD 1,728 million compared to USD 123 million a year ago. Basic earnings per share from continuing operations was USD 4.49 compared to USD 0.23 a year ago. Diluted earnings per share from continuing operations was USD 4.47 compared to USD 0.23 a year ago.
For the six months, revenue was USD 9,112 million compared to USD 4,103 million a year ago. Net income was USD 2,301 million compared to net loss of USD 1,365 million a year ago. Basic earnings per share from continuing operations was USD 5.89 compared to basic loss per share from continuing operations of USD 3.27 a year ago. Diluted earnings per share from continuing operations was USD 5.86 compared to diluted loss per share from continuing operations of USD 3.27 a year ago.
Equitable Holdings, Inc. is the holding company for a diversified financial services organization. The Companyâs segments include Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management and Legacy. The Individual Retirement segment offers a diverse suite of variable annuity products which are primarily sold to affluent and high-net-worth individuals. The Group Retirement segment offers tax-deferred investment and retirement services or products. The Investment Management & Research segment provides diversified investment management, research, and related solutions globally. The Protection Solutions segment includes its life insurance and group employee benefits businesses. The Wealth Management segment offers discretionary and non-discretionary investment advisory accounts, financial planning and advice, life insurance, and annuity products. Legacy segment primarily consists of its capital-intensive fixed-rate GMxB business.