MBIA Inc. (MBI) revealed Loss for fourth quarter that increased from the same period last year and missed the Street estimates.
The company's bottom line totaled -$51 million, or -$1.07 per share. This compares with -$138 million, or -$2.94 per share, last year.
Excluding items, MBIA Inc. reported adjusted earnings of -$22 million or -$0.48 per share for the period.
Analysts on average had expected the company to earn -$0.07 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 219.4% to $37 million from -$31 million last year.
MBIA Inc. earnings at a glance (GAAP) :
-Earnings: -$51 Mln. vs. -$138 Mln. last year.
-EPS: -$1.07 vs. -$2.94 last year.
-Revenue: $37 Mln vs. -$31 Mln last year.
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