COLUMBUS, Ohio (AP) -- Nationwide Financial Services Inc., which provides long-term savings and retirement plans, said Thursday third-quarter earnings fell 9 percent, as the investment manager recorded investment losses in a choppy stock market.

Net income fell to $147 million, or $1.03 per share, from $161.9 million, or $1.08 per share, in the year-ago period.

Operating earnings slipped 1 percent to $155.4 million, or $1.09 per share, from $157.1 million, or $1.05 per share. The prior period had more shares outstanding, resulting in the lower per-share operating profit in the latest quarter.

Analyst expected profit of $1.11 per share, according to a Thomson Financial poll.

Revenue fell 2 percent to $1.13 billion from $1.16 billion last year. The company said an increase in the number and types of retirement products it offers helped boost sales 8 percent to $4.44 billion.

Analysts expected quarterly revenue of $1.16 billion.

The stock market fluctuated wildly in the third quarter, tanking in August amid a broad credit crunch, although the major indices finished the quarter slightly higher.

Shares lost $1.06, or 2 percent, to $52.59 in Thursday's trading.

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