MetLife, Prudential results top analyst estimates |
| MarketWatch - Feb 9, 2011 |
MetLife Inc. and Prudential Financial Inc. reported better-than-expected quarterly earnings late Wednesday as the insurers generated strong sales of annuities.
MetLife /quotes/comstock/13*!met/quotes/nls/met (MET 46.70, -0.90, -1.89%) said fourth-quarter net income came in at $51 million, or 5 cents a share, versus $289 million, or 35 cents a share, in the same period a year earlier.
Operating profit, which excludes net realized investment gains and losses, was $1.16 billion, or $1.14 a share, in the latest period, the life insurance and annuity giant said.
Late rally extends Dow streakStocks gain late in the day, helping to turn a losing session in the eighth consecutive gain for the Dow.
MetLife was expected to make $1.09 a share, according to the average estimate of analysts surveyed by FactSet Research.
Prudential /quotes/comstock/13*!pru/quotes/nls/pru (PRU 63.75, +0.62, +0.98%) said fourth-quarter net income came in at $213 million, 45 cents per common share, versus $1.79 billion, or $3.78 per common share, for the fourth quarter of 2009.
Read Full Article from MarketWatch
- Posted: 2011-02-09 22:41:03
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