MBIA Inc. Q3 Loss Decreases, beats estimates

(RTTNews) - MBIA Inc. (MBI) revealed Loss for third quarter that decreased from the same period last year but missed the Street estimates.

The company's bottom line came in at -$34 million, or -$0.67 per share. This compares with -$123 million, or -$2.49 per share, in last year's third quarter.

Excluding items, MBIA Inc. reported adjusted earnings of -$17 million or -$0.34 per share for the period.

Analysts on average had expected the company to earn -$0.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 76.4% to $17 million from $72 million last year.

MBIA Inc. earnings at a glance (GAAP) :

-Earnings (Q3): -$34 Mln. vs. -$123 Mln. last year. -EPS (Q3): -$0.67 vs. -$2.49 last year. -Analyst Estimates: -$0.47 -Revenue (Q3): $17 Mln vs. $72 Mln last year.