PURCHASE, N.Y. (AP) _ MBIA Inc. (MBI) on Tuesday reported third-quarter net income of $71 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Purchase, New York-based company said it had net income of 86 cents. Earnings, adjusted for non-recurring costs, were $1.46 per share.
The insurance and reinsurance company posted revenue of $172 million in the period.
MBIA shares have climbed 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.47, a decrease of slightly more than 9% in the last 12 months.