CHARLOTTE, N.C. (AP) _ Brighthouse Financial Inc. (BHF) on Monday reported a first-quarter loss of $585 million, after reporting a profit in the same period a year earlier.
The Charlotte, North Carolina-based company said it had a loss of $6.96 per share. Earnings, adjusted for one-time gains and costs, were $4.86 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.
The annuity and life insurance company posted revenue of $938 million in the period. Its adjusted revenue was $2.37 billion.
Brighthouse Financial shares have risen 35% since the beginning of the year. In the final minutes of trading on Monday, shares hit $48.92, a rise of 70% in the last 12 months.