MetLife profit falls 90 pct, operating profit beats Street
Feb 13 (Reuters) - MetLife Inc, the largest U.S. life insurer, reported a 90 percent fall in quarterly profit on derivative losses linked to its credit spreads but its operating profit beat estimates.
The company's net income fell to $96 million, or 9 cents per share, in the fourth quarter, from $959 million, or 90 cents per share, a year earlier.
On an operating basis, MetLife earned $1.25 per share.
Analysts on average expected earnings of $1.18 per share, according to Thomson Reuters I/B/E/S.
- Children's corpses reveal desperate attempts to escape Korean ferry |
- Russia says it will respond if Ukraine interests attacked |
- Vote delayed on loan guarantee for World Trade Center developer
- Obama seeks to ease Asian allies' doubts during visit to Japan |
- NYPD Twitter campaign backfires, thousands of negative tweets