MetLife tops 4Q net income and revenue expectations
NEW YORK (AP) — MetLife Inc. (MET) on Wednesday reported fourth-quarter net income of $1.52 billion.
On a per-share basis, the New York-based company said it had net income of $1.30. Earnings, adjusted for non-recurring costs, were $1.38 per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The insurer posted revenue of $18.25 billion in the period, which also beat Street forecasts. Analysts expected $18.15 billion, according to Zacks.
For the year, the company reported profit of $6.31 billion, or $5.42 per share. Revenue was reported as $71.08 billion.
MetLife shares have declined almost 7 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Wednesday, shares hit $50.41, a rise of roughly 4 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MET at http://www.zacks.com/ap/MET
Keywords: MetLife, Earnings Report