MetLife Beats 2Q Profit Forecasts

NEW YORK (AP) _ MetLife Inc. (MET) on Wednesday reported second-quarter profit of $884 million.

On a per-share basis, the New York-based company said it had net income of 77 cents. Earnings, adjusted for non-recurring costs, came to $1.30 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The insurer posted revenue of $17.25 billion in the period. Its adjusted revenue was $17.58 billion.

MetLife shares have risen 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. In the final minutes of trading on Wednesday, shares hit $55.48, a climb of 31 percent in the last 12 months.

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

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