NEW YORK (AP) _ MetLife Inc. (MET) on Wednesday reported fourth-quarter earnings of $124 million.
The New York-based company said it had profit of 14 cents per share. Earnings, adjusted for non-recurring costs, were $2.03 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The insurer posted revenue of $19.42 billion in the period. Its adjusted revenue was $20.58 billion.
For the year, the company reported profit of $5.19 billion, or $5.68 per share. Revenue was reported as $66.47 billion.
MetLife shares have risen 5% since the beginning of the year, while the Standard & Poor's 500 index has climbed 2%. In the final minutes of trading on Wednesday, shares hit $49.37, a fall of roughly 1% in the last 12 months.