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CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Brighthouse Financial Inc. (BHF) on Tuesday reported fourth-quarter net income of $671 million, 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 net income of $10.79. Earnings, adjusted for non-recurring gains, were $5.88 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.44 per share.
The annuity and life insurance company posted revenue of $1.21 billion in the period. Its adjusted revenue was $2.27 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.23 billion.
For the year, the company reported net income of $388 million, or $4.64 per share, swinging to a profit in the period. Revenue was reported as $8.72 billion.
Brighthouse Financial shares have risen 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $58.49, a rise of slightly more than 9% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BHF at https://www.zacks.com/ap/BHF