NEW YORK (AP) — NEW YORK (AP) — Ambac Financial Group Inc. (AMBC) on Monday reported a second-quarter loss of $13 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 29 cents per share. Earnings, adjusted for non-recurring costs, came to 7 cents per share.
The bond insurer posted revenue of $62 million in the period.
Ambac shares have dropped 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.16, an increase of 24% in the last 12 months.
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