Insurer MBIA Inc. (MBI) Wednesday reported second-quarter net income available to common shareholders of $581 million or $2.98 per share for the quarter, compared with net income of $137 billion or $0.68 per share last year.
Pre-tax Income for the quarter was $795 million, compared to a pre-tax loss of $147 million in the prior year quarter. Adjusted pre-tax loss was $152 million, compared to an adjusted pre-tax income of $161 million in the comparable quarter last year.
Total premiums earned for the quarter was $171 million, up from $149 million in the year-ago period.
Wall Street analysts expected earnings of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.
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