Brighthouse Posts $1.3 Billion Q1 Net Derivatives Loss
May 8, 2019 by Allison Bell
Brighthouse Financial Inc. is reporting that its operations did well in the first quarter, and that its derivatives lost $1.3 billion in value.
The Charlotte, North Carolina-based company is reporting a net loss of $735 million for the quarter on $691 million in revenue, compared with a net loss of $65 million on $1.8 billion in revenue for the first quarter of 2018.
Brighthouse has reported big swings in derivatives value in the past. It recorded $334 million in net losses on its derivatives in the first quarter of 2018, but $2 billion in net derivatives gains in the fourth quarter of 2018.
Adjusted earnings, which exclude the effects of derivatives value fluctuations and some other gains and charges, fell to $259 million, from $288 million in the first quarter of 2018.
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