PHILADELPHIA (AFX) - Lincoln National Corp., an insurance and investment advisory company, said Tuesday second-quarter earnings 76 percent, boosted by its consolidation of recently acquired Jefferson-Pilot.
Net income shot up to $349 million, or $1.23 per share, from $197.9 million, or $1.13 per share, in the year-ago period. The acquisition of insurer Jefferson-Pilot, closed April 3, added $145 million to the bottom line, Lincoln said.
Wall Street was looking for profit of $1.14 per share, according to Thomson Financial.
Revenue rose to $2.5 billion from $1.37 billion last year.
Shares sank 19 cents to close at $56.64 on the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.