MetLife Shares Slump 3% On Disappointing Fourth-quarter Results

By Sue ChangMarketsMarketWatch Pulse

Shares of MetLife Inc. fell 3% in Wednesday's extended session after the insurer posted quarterly results that fell short of Wall Street's expectations. MetLife reported it swung to a fourth-quarter loss of $2.1 billion, or $1.94 a share, from a profit of $785 million, or 70 cents a share, a year earlier. The sizeable shortfall was blamed on derivative losses from market fluctuations. MetLife's operating earnings rose 3% to $1.4 billion, or $1.28 a share. Revenue fell to $12.07 billion from $17.04 billion. Analysts surveyed by FactSet had forecast adjusted earnings of $1.34 a share and revenue of $17.27 billion.

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