Ambac: Q4 Earnings Snapshot

Associated Press Finance
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NEW YORK (AP) — NEW YORK (AP) — Ambac Financial Group Inc. (AMBC) on Tuesday reported a fourth-quarter loss of $16 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 24 cents. Earnings, adjusted for non-recurring costs, came to 32 cents per share.

The bond insurer posted revenue of $76 million in the period.

For the year, the company reported profit of $4 million, or 18 cents per share. Revenue was reported as $269 million.

Ambac shares have climbed slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.54, a rise of 2% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMBC at https://www.zacks.com/ap/AMBC

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