CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Brighthouse Financial Inc. (BHF) on Wednesday reported second-quarter net income of $981 million.
The Charlotte, North Carolina-based company said it had net income of $16.53 per share. Earnings, adjusted for non-recurring gains, came to $4.45 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.98 per share.
The annuity and life insurance company posted revenue of $1.62 billion in the period. Its adjusted revenue was $2.1 billion, also missing Street forecasts. Four analysts surveyed by Zacks expected $2.29 billion.
Brighthouse Financial shares have dropped 4.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $61.86, a rise of 32% in the last 12 months.
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