MetLife 3Q Profit, Revenue Fall as Premiums, Fees Slide
02 November 2023 - 8:26AM
Dow Jones News
By Sabela Ojea
MetLife said profit plunged in the latest quarter following a
sharp decline in premiums, fees and other revenue.
The insurer on Wednesday posted a third-quarter net profit of
$422 million, or 56 cents a share, compared with $1.1 billion, or
$1.37 a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share
came in at $1.97.
Total revenue dropped 29%, to $15.87 billion. Analysts polled by
FactSet had forecast higher revenue of $17.49 billion.
Premiums, fees and other revenues dropped to $13.17 billion from
$19.34 billion a year ago.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
November 01, 2023 17:11 ET (21:11 GMT)
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