Ambac: Q1 Earnings Snapshot
By AP News
Published - May 09, 2023, 06:42 PM ET
Last Updated - Jun 21, 2023, 09:20 PM EDT
NEW YORK (AP) — NEW YORK (AP) — Ambac Financial Group Inc. (AMBC) on Tuesday reported a first-quarter loss of $33 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 73 cents per share. Losses, adjusted for non-recurring costs, came to 30 cents per share.
The bond insurer posted revenue of $58 million in the period.
Ambac shares have fallen 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.99, more than doubling in the last 12 months.
