NEW YORK (AP) _ Ambac Financial Group Inc. (AMBC) on Thursday reported a second-quarter loss of $128.4 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of $2.79 per share. Earnings, adjusted for non-recurring costs, were $1.88 per share.
The bond insurer posted revenue of $89.1 million in the period.
Ambac shares have climbed 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.82, a decline of 10% in the last 12 months.