MetLife Q4 Profit Beats View

(RTTNews) - MetLife Inc. (MET) reported that its fourth quarter net income available to common shareholders climbed to $1.2 billion or $1.39 per share, from last year's $124 million or $0.14 per share, primarily driven by higher derivative losses in the prior-year period.

Adjusted earnings were $1.8 billion or $2.17 per share, compared to adjusted earnings of $1.8 billion or $2.03 per share in the fourth quarter of 2020.

Adjusted earnings, excluding total notable items, were $1.7 billion or $2.01 per share, compared to adjusted earnings, excluding total notable items, of $1.8 billion, or $2.03 per share, in the fourth quarter of 2020. Analysts polled by Thomson Reuters expected the company to report earnings of $1.47 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Premiums, fees and other revenues was $15.2 billion, down 4 percent from the fourth quarter of 2020. Adjusted premiums, fees and other revenues were $15.0 billion, down 4 percent on a reported basis and 3 percent on a constant currency basis from the prior-year period.

Total revenues for the fourth quarter grew to $20.09 billion from $19.42 billion in the prior year. Analysts expected revenue of $17.67 billion for the quarter.