CHARLOTTE, N.C. (AP) _ Brighthouse Financial Inc. (BHF) on Wednesday reported a loss of $1.03 billion in its fourth quarter.
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of $11.69. Earnings, adjusted for non-recurring costs, were $3.03 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.73 per share.
The annuity and life insurance company posted revenue of $131 million in the period. Its adjusted revenue was $2.15 billion.
For the year, the company reported that its loss widened to $1.06 billion, or $11.58 per share. Revenue was reported as $7.99 billion.
Brighthouse Financial shares have risen 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $41.92, decreasing slightly in the last 12 months.