MetLife Blames Strong Dollar For Lower Quarterly Results

Shares of MetLife Inc. fell in Wednesday's extended session after the insurance giant posted weaker quarterly results. MetLife reported its fourth-quarter operating earnings slid 13% to $1.38 billion, or $1.23 a share, while total operating revenue dropped 6% to $17.11 billion. The company blamed the decline in operating earnings on lower investment income and a stronger U.S. dollar. On a generally accepted accounting principles basis, MetLife's earnings slumped to $785 million, or 70 cents a share, from $1.49 billion, or $1.30 a share, in the same quarter last year. MetLife shares shed 2.7% in after-hours trade.