Insurer MetLife Inc., which has operations in Bloomfield, lost $1.43 billion in the second quarter amid a huge spike in investment losses.
For the period ended June 30, New York-based MetLife posted a loss of $1.74 per share, marking the second quarterly loss in a row for the New York-based insurer. That compared with net income of $915 million, or $1.26 per share, a year earlier.
On an adjusted basis, the company says it earned $723 million, or 88 cents per share, in the second quarter of 2009, down 18 percent from an adjusted profit of $887 million, or $1.22 per share, in the prior-year quarter.
Analysts polled by Thomson Reuters, on average, were expecting earnings of 68 cents per share. Analyst estimates typically exclude one-time, unusual items. (AP)
