PURCHASE, N.Y. (AP) _ MBIA Inc. (MBI) on Tuesday reported a third-quarter loss of $267 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Purchase, New York-based company said it had a loss of $2.17. Losses, adjusted for non-recurring costs, came to 92 cents per share.
The insurance and reinsurance company posted revenue of $33 million in the period.
MBIA shares have fallen 35 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.93, a decline of nearly 10 percent in the last 12 months.