CHARLOTTE, N.C. (AP) 鈥� CHARLOTTE, N.C. (AP) 鈥� Brighthouse Financial Inc. (BHF) on Wednesday reported a loss of $766 million in its first quarter.
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of $13.82. Earnings, adjusted for non-recurring costs, were $4.35 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.75 per share.
The annuity and life insurance company posted revenue of $1.53 billion in the period. Its adjusted revenue was $2.1 billion, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $2.21 billion.
Brighthouse Financial shares have dropped slightly more than 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $62.59, a climb of 9% in the last 12 months.
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