MBIA Inc. Q1 Loss Increases, but beats estimates

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

The company's earnings totaled -$93 million, or -$1.86 per share. This compares with -$73 million, or -$1.48 per share, in last year's first quarter.

Excluding items, MBIA Inc. reported adjusted earnings of -$1 million or -$0.03 per share for the period.

Analysts on average had expected the company to earn -$0.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 95.0% to $2 million from $40 million last year.

MBIA Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$93 Mln. vs. -$73 Mln. last year. -EPS (Q1): -$1.86 vs. -$1.48 last year. -Analyst Estimate: -$0.42 -Revenue (Q1): $2 Mln vs. $40 Mln last year.