MetLife: 2Q Earnings Snapshot
NEW YORK (AP) _ MetLife Inc. (MET) on Wednesday reported second-quarter earnings of $891 million.
The New York-based company said it had net income of 83 cents per share. Earnings, adjusted for non-recurring costs, came to $1.30 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The insurer posted revenue of $21.19 billion in the period. Its adjusted revenue was $21.22 billion.
MetLife shares have decreased almost 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. In the final minutes of trading on Wednesday, shares hit $45.71, a drop of 18 percent in the last 12 months.