MetLife (NYSE:MET) announced that it lost $94 million, or 9 cents per share, during the fiscal quarter that ended on March 31, versus a net income of $701 million, or 66 cents per share, in the same period last year. Most of the loss was the result of declining derivative values. The company lost $1.98 billion on derivatives in the first quarter versus $315 million in the same period last year. Revenue for the quarter increased by seven percent, to $16.69 billion from $15.61 billion in the same period last year.
Shares are lower by about a quarter of a percent.
E-Trade Financial (NASDAQ:ETFC) announced that it earned 13 cents per share, beating analyst estimates of 9 cents per share. Revenue was $489.4 million, versus analyst estimates of $472.5 million. Loan-loss provisions fell by 41 percent to $72 million from the fourth quarter.
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