CHARLOTTE, N.C. (AP) _ Brighthouse Financial Inc. (BHF) on Monday reported first-quarter net income of $4.96 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $47.11. Earnings, adjusted for non-recurring gains, were $2.60 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The annuity and life insurance company posted revenue of $8.99 billion in the period. Its adjusted revenue was $2.04 billion.
Brighthouse Financial shares have decreased 28% since the beginning of the year. The stock has dropped 28% in the last 12 months.