Metlife stock falls after revenue miss, earnings beat
Metlife Inc. shares fell more than 1% in the extended session Wednesday after the company reported earnings that beat expectations and a revenue miss. The company reported fourth-quarter net income of $1.27 billion, or $2.04 a share, compared with $678 million, or $1.97 a share, in the year-ago period. Adjusted for items such as income taxes and investments, earnings were $1.38 a share. Revenue fell to $15.66 billion from $15.75 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.27 a share on revenue of $15.88 billion. For the first quarter, analysts model adjusted earnings of $1.31 a share on revenue of $16.02 billion. Metlife stock has fallen 2.2% in the past year, with the S&P 500 index rising 1.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.