NEW YORK (AP) — MetLife Inc. said on Wednesday that its second-quarter earnings more than doubled, topping Wall Street's expectations, as the insurer recorded a $1.4 billion one-time gain from a derivatives bet that interest rates would fall.
The New York-based company reported net income of $2.26 billion, or $2.12 per share, for the three months ended June 30. That was up from earnings of $1.07 billion, or $1 per share, in the same quarter a year ago.
Excluding one-time items, the company posted operating income of nearly $1.43 billion, or $1.33 per share. Analysts had been expecting $1.24 per share, on average, according to FactSet.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
