MetLife Q1 Profit Plunges

(RTTNews) - MetLife Inc. (MET) reported that its first-quarter net income plunged to $290 million or $0.33 per share, from $4.4 billion or $4.75 per share, in the first quarter of 2020.

Adjusted earnings were $2.0 billion, or $2.20 per share, compared to adjusted earnings of $1.4 billion or $1.58 per share, in the first quarter of 2020.

Total revenues for the quarter declined to $15.56 billion from $18.31 billion in the prior year.

MetLife reported first quarter 2021 premiums, fees and other revenues of $12.3 billion, up 9 percent over the first quarter of 2020. Adjusted premiums, fees and other revenues were $11.4 billion, up 2 percent, and up 1 percent on a constant currency basis from the prior-year period.