MET

By Kathryn Hardison

MetLife Inc.'s fourth-quarter revenue declined 19% as it logged lower net investment income and premiums, fees and other revenues.

Net income attributable to the company was $1.3 billion, or $1.66 per share, from net income of $1.2 billion, or $1.39 per share, a year ago. Adjusted per-share earnings came to $1.55, compared with the $1.67 per share analysts were expecting, according to FactSet.

Revenue was $16.3 billion, down from $20.1 billion the year prior. Analysts expected $17.22 billion.

Premiums, fees and other revenues declined 25% to $11.3 billion. Net investment income was 15% lower to $4.5 billion.

Net derivative gains amounted to $162 million, or $128 million after tax during the quarter, which was the company said was primarily driven by a weakening of the U.S. dollar.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

February 01, 2023 16:43 ET (21:43 GMT)

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