PURCHASE, N.Y. (AP) _ MBIA Inc. (MBI) on Wednesday reported a fourth-quarter loss of $265 million, after reporting a profit in the same period a year earlier.
The Purchase, New York-based company said it had a loss of $2.01 per share. Losses, adjusted for non-recurring costs, came to 5 cents per share.
For the year, the company reported a loss of $338 million, or $2.54 per share, swinging to a loss in the period. Revenue was reported as $294 million.
MBIA shares have decreased slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.12, a climb of 38 percent 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
Keywords: MBIA, Earnings Report