Ambac: 1Q Earnings Snapshot

Ambac: 1Q Earnings Snapshot

Associated Press

NEW YORK (AP) _ Ambac Financial Group Inc. (AMBC) on Thursday reported a first-quarter loss of $43.2 million, after reporting a profit in the same period a year earlier.

The New York-based company said it had a loss of 94 cents per share. Losses, adjusted for non-recurring costs, came to 20 cents per share.

The bond insurer posted revenue of $100.4 million in the period.

Ambac shares have risen nearly 10% since the beginning of the year. The stock has increased 3% in the last 12 months.

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