MetLife Blames Strong Dollar For Lower Quarterly Results

By Sue ChangMarketWatch Pulse

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.

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