$MET Beats the Street, Profits Down 90%

Source

“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.”