PURCHASE, N.Y. (AP) _ MBIA Inc. (MBI) on Wednesday reported a loss of $17 million in its first quarter.
On a per-share basis, the Purchase, New York-based company said it had a loss of 20 cents. Earnings, adjusted for non-recurring costs, were 45 cents per share.
The insurance and reinsurance company posted revenue of $50 million in the period.
MBIA shares have increased 7.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.59, an increase of 12% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBI at https://www.zacks.com/ap/MBI