MetLife: 3Q Earnings Snapshot
NEW YORK (AP) _ MetLife Inc. (MET) on Wednesday reported third-quarter profit of $2.18 billion.
The New York-based company said it had net income of $2.30 per share. Earnings, adjusted for non-recurring gains, were $1.27 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The insurer posted revenue of $18.68 billion in the period. Its adjusted revenue was $16.92 billion.
MetLife shares have increased 13% since the beginning of the year, while the Standard & Poor’s 500 index has risen 22%. In the final minutes of trading on Wednesday, shares hit $46.29, a climb of 14% in the last 12 months.