MBIA Inc. Q4 Loss Decreases, but misses estimates

(RTTNews) - MBIA Inc. (MBI) announced Loss for its fourth quarter that increased from last year and missed the Street estimates.

The company's earnings totaled -$155 million, or -$3.12 per share. This compares with -$81 million, or -$1.64 per share, in last year's fourth quarter.

Excluding items, MBIA Inc. reported adjusted earnings of -$106 million or -$2.13 per share for the period.

Analysts on average had expected the company to earn -$0.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 73.8% to $27 million from $103 million last year.

MBIA Inc. earnings at a glance (GAAP) :

-Earnings (Q4): -$155 Mln. vs. -$81 Mln. last year. -EPS (Q4): -$3.12 vs. -$1.64 last year. -Analyst Estimate: -$0.44 -Revenue (Q4): $27 Mln vs. $103 Mln last year.