MetLife Beats Profit And Revenue Estimates

MetLife Inc. shares jumped 2% in after-hours trade Wednesday, after the insurer beat profit and revenue estimates for its third quarter. The shares later reversed those gains to trade flat. The company said it had net income of $571 million, or 51 cents a share, down 52% from a year ago. Excluding losses on derivatives and a goodwill impairment charge, the company had per-share earnings of $1.27, above the FactSet consensus of $1.15. Revenue fell 2% to $17.7 billion from $18.0 billion, also ahead of the FactSet consensus of $17.2 billion. Premiums, fees and other revenue came to $13.1 billion, down 1% from a year ago. Shares are down about 4% in the year so far, while the S&P 500 has gained 2.6%.

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