Breaking News
FONT-SIZE Plus   Neg
Share SHARE

MetLife Slips To Loss In Q1 - Update

RELATED NEWS
Trade MET now with 

Insurance provider MetLife, Inc. (MET: Quote) reported Friday a loss for the first quarter, reflecting higher operating expenses and higher net derivative losses, despite an increase in premiums revenues.

Announcing preliminary results for the first quarter, the company said its net loss available to common shareholders was $94 million or $0.09 per share, compared to a net profit of $701 million or $0.66 per share a year ago.

Operating earnings per share rose to $1.37 from $1.23 per share in the same quarter a year earlier. The company said it has revised certain amounts in the prior periods.

On average, 20 analysts polled by Thomson Reuters expected the company to report earnings of $1.25 per share for the quarter. Analysts' estimates typically exclude special items.

The New York-based company's total operating revenues grew to $16.69 billion from $15.62 billion in the prior-year quarter. Analysts estimated revenues of $16.72 billion.

Premiums, fees and other revenues increased to $11.61 billion from $10.83 billion in the preceding year. Revenues from premiums were $9.11 billion, up from $8.53 billion a year earlier.

Net derivative losses for the quarter widened to $1.98 billions from $317 millions last year. Total operating expenses increased to $14.6 billion from $13.7 billion in the previous year.

The company said it will announce final results for the first quarter on April 26. MetLife also announced today that it is rescheduling its first quarter 2012 earnings conference call and audio Webcast from Thursday, May 3, 2012 to Friday, April 27, 2012 from 8:00 to 9:00 a.m. (ET).

MET closed Thursday's regular trading at $35.38 on the NYSE. In the pre-market activity, the shares are up 1.75 percent.

Register
To receive FREE breaking news email alerts for MetLife Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.