MBIA Inc. Q3 Loss Increases, misses estimates

(RTTNews) - MBIA Inc. (MBI) released Loss for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled -$185 million, or -$3.94 per share. This compares with -$34 million, or -$0.67 per share, in last year's third quarter.

Excluding items, MBIA Inc. reported adjusted earnings of -$138 million or -$2.92 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 fell 52.9% to $8 million from $17 million last year.

MBIA Inc. earnings at a glance (GAAP) :

-Earnings (Q3): -$185 Mln. vs. -$34 Mln. last year. -EPS (Q3): -$3.94 vs. -$0.67 last year. -Analyst Estimate: -$0.15 -Revenue (Q3): $8 Mln vs. $17 Mln last year.