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MetLife: 1Q Earnings Snapshot

NEW YORK (AP) _ MetLife Inc. (MET) on Wednesday reported first-quarter profit of $1.38 billion.

On a per-share basis, the New York-based company said it had net income of $1.40. Earnings, adjusted for non-recurring costs, were $1.48 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The insurer posted revenue of $16.3 billion in the period. Its adjusted revenue was $16.17 billion.

MetLife shares have risen 11% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. In the final minutes of trading on Wednesday, shares hit $45.77, a drop of 3% 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 MET at https://www.zacks.com/ap/MET