Genworth Financial Swings To Loss In Fourth Quarter

MarketWatch Pulse

Genworth Financial Inc. reported a net operating loss of $416 million, or 84 cents a share in the fourth quarter, compared with net operating income of $193 million, or 38 cents, a year earlier. Analysts had been expecting the company to lose 8 cents a share in the period, according to a survey of analysts by FactSet. The company said it is launching a restructuring plan in a bid to save $100 million before taxes over the next two years.

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