NEW YORK (AP) — NEW YORK (AP) — Ambac Financial Group Inc. (AMBC) on Monday reported first-quarter net income of $20 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs, came to 82 cents per share.
The bond insurer posted revenue of $103 million in the period.
Ambac shares have declined slightly more than 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $15.12, an increase of 4% in the last 12 months.
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