CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Brighthouse Financial Inc. (BHF) on Tuesday reported a loss of $493 million in its first quarter.
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of $8.22. Earnings, adjusted for non-recurring costs, came to $4.25 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.96 per share.
The annuity and life insurance company posted revenue of $74 million in the period. Its adjusted revenue was $2.05 billion, which missed Street forecasts. Six analysts surveyed by Zacks expected $2.12 billion.
Brighthouse Financial shares have declined 3.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $51.07, an increase 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 BHF at https://www.zacks.com/ap/BHF
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
