CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Brighthouse Financial Inc. (BHF) on Thursday reported second-quarter profit of $85 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $1.02. Earnings, adjusted for non-recurring costs, came to $3.43 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.70 per share.
The annuity and life insurance company posted revenue of $871 million in the period. Its adjusted revenue was $2.15 billion, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.2 billion.
Brighthouse Financial shares have dropped 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.07, an increase of almost 4% in the last 12 months.
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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
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