MBIA Inc. recently reported a decrease in their first quarter losses from the previous year, although the figures fell short of Wall Street's predictions. The company's net losses amounted to $86 million, or $1.84 per share. In the same quarter last year, the losses were slightly higher at $93 million, or $1.86 per share.
When special items are taken into account, MBIA Inc.'s adjusted earnings stand at a loss of $24 million, or $0.52 per share for this period. These figures don't meet the average analyst expectations, which projected the company to report a loss of $0.15 per share. It's important to note that these predictions don't generally account for special items.
MBIA Inc.'s revenue for the quarter has seen a significant increase, rising by a massive 550.0%. It has climbed to $13 million from last year's $2 million.
If we quickly glance at MBIA Inc.'s earnings (in accordance with GAAP), we see that there's a loss of $86 million in Q1, relative to last year's $93 million loss. The earnings per share (EPS) for Q1 was $1.84, marginally better than last year's $1.86. The revenue for Q1 saw a substantial increase to $13 million, up from $2 million the previous year.
