NEW YORK (AP) — MetLife Inc. (MET) on Wednesday reported third-quarter earnings of $706 million.
On a per-share basis, the New York-based company said it had profit of 69 cents. Earnings, adjusted for non-recurring costs, came to $1.73 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The insurer posted revenue of $16.02 billion in the period. Its adjusted revenue was $16.51 billion.
MetLife shares have declined 23% since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 7%. In the final minutes of trading on Wednesday, shares hit $39, a decrease of 18% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MET at https://www.zacks.com/ap/MET