MBIA Inc. Q1 Loss Decreases, But Misses Estimates

(RTTNews) - MBIA Inc. (MBI) released Loss for first quarter that decreased from last year but missed the Street estimates.

The company's bottom line came in at -$86 million, or -$1.84 per share. This compares with -$93 million, or -$1.86 per share, in last year's first quarter.

Excluding items, MBIA Inc. reported adjusted earnings of -$24 million or -$0.52 per share for the period.

Analysts on average had expected the company to earn -$0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 550.0% to $13 million from $2 million last year.

MBIA Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$86 Mln. vs. -$93 Mln. last year. -EPS (Q1): -$1.84 vs. -$1.86 last year. -Revenue (Q1): $13 Mln vs. $2 Mln last year.