MBIA Inc. Profit Retreats 79% In Q3

(RTTNews) - MBIA Inc. (MBI) revealed earnings for third quarter that retreated compared to the same period last year.

The company said its profit totaled $5 million, or $0.04 per share. This was lower than $24 million, or $0.15 per share, in last year's third quarter.

Analysts had expected the company to earn $0.12 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 120.7% to $203 million. This was up from $92 million last year.

MBIA Inc. earnings at a glance:

-Earnings (Q3): $5 Mln. vs. $24 Mln. last year. -Earnings Decline (Y-o-Y): -79.2% -EPS (Q3): $0.04 vs. $0.15 last year. -EPS Decline (Y-o-Y): -73.3% -Analysts Estimate: $0.12 -Revenue (Q3): $203 Mln vs. $92 Mln last year. -Revenue Change (Y-o-Y): 120.7%