(RTTNews) - MetLife Inc. reported that its fourth quarter net income available to common shareholders climbed to $1.2 billion or $1.39 per share, from last year's $124 million or $0.14 per share, primarily driven by higher derivative losses in the prior-year period.
Adjusted earnings were $1.8 billion or $2.17 per share, compared to adjusted earnings of $1.8 billion or $2.03 per share in the fourth quarter of 2020.
Adjusted earnings, excluding total notable items, were $1.7 billion or $2.01 per share, compared to adjusted earnings, excluding total notable items, of $1.8 billion, or $2.03 per share, in the fourth quarter of 2020. Analysts polled by Thomson Reuters expected the company to report earnings of $1.47 per share for the fourth quarter. Analysts' estimates typically exclude special items.
Premiums, fees and other revenues was $15.2 billion, down 4 percent from the fourth quarter of 2020. Adjusted premiums, fees and other revenues were $15.0 billion, down 4 percent on a reported basis and 3 percent on a constant currency basis from the prior-year period.