NEW YORK (AP) — NEW YORK (AP) — Ambac Financial Group Inc. (AMBC) on Tuesday reported a third-quarter loss of $28 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 63 cents. Losses, adjusted for one-time gains and costs, were 46 cents per share.
The bond insurer posted revenue of $114 million in the period.
Ambac shares have fallen 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.66, a fall of 20% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMBC at https://www.zacks.com/ap/AMBC
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
