MBIA Inc. Q2 Loss Increases, misses estimates

(RTTNews) - MBIA Inc. (MBI) revealed Loss for its second quarter that increased from last year and missed the Street estimates.

The company's earnings came in at -$74 million, or -$1.46 per share. This compares with -$36 million, or -$0.72 per share, in last year's second quarter.

Excluding items, MBIA Inc. reported adjusted earnings of -$22 million or -$0.45 per share for the period.

Analysts on average had expected the company to earn -$0.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.0% to $28 million from $40 million last year.

MBIA Inc. earnings at a glance (GAAP) :

-Earnings (Q2): -$74 Mln. vs. -$36 Mln. last year. -EPS (Q2): -$1.46 vs. -$0.72 last year. -Analyst Estimate: -$0.16 -Revenue (Q2): $28 Mln vs. $40 Mln last year.