(Bloomberg) -- MBIA Inc., the world's biggest bond
insurer, reported a 4.3 percent decline in second-quarter profit
after losing $9.6 million from an investment in a failed hedge
funds run by Bear Stearns Cos.
Net income was $211.8 million, or $1.61 a share, compared
with $221.4 million, or $1.62, a year earlier, the Armonk, New
York-based company said today in a statement. Excluding
investment income, profit was $1.57 a share, beating the $1.52
average analyst estimate compiled by Bloomberg.
Read more at Bloomberg Bonds News
insurer, reported a 4.3 percent decline in second-quarter profit
after losing $9.6 million from an investment in a failed hedge
funds run by Bear Stearns Cos.
Net income was $211.8 million, or $1.61 a share, compared
with $221.4 million, or $1.62, a year earlier, the Armonk, New
York-based company said today in a statement. Excluding
investment income, profit was $1.57 a share, beating the $1.52
average analyst estimate compiled by Bloomberg.
Read more at Bloomberg Bonds News
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