MetLife Earnings: Here’s Why Shares are Up Now
MetLife, Inc. (NYSE:MET) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.06%.
MetLife, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.27% to $1.44 in the quarter versus EPS of $1.33 in the year-earlier quarter.
Revenue: Decreased 7.37% to $17.04 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: MetLife, Inc. reported adjusted EPS income of $1.44 per share. By that measure, the company beat the mean analyst estimate of $1.33. It missed the average revenue estimate of $17.33 billion.
Quoting Management: “MetLife delivered strong performance in the second quarter through favorable investment margins, expense discipline in the U.S. and good results in Asia,” said Steven A. Kandarian, chairman, president and chief executive officer of MetLife, Inc. “We continued to execute on our strategy by growing our top line in emerging markets and shifting our business mix toward lower capital intensive products. We expect our strategy will continue to increase shareholder value over time.”
Key Stats (on next page)…