WASHINGTON (dpa-AFX) - Bond insurer Ambac Financial Group, Inc. (AMBC) reported net income for the first quarter of $215 million or $4.57 per share, compared to $156 million or $3.31 per share for the year-ago quarter.
Operating earnings for the latest quarter were $247.6 million or $5.27 per share.
Net premium earned for the first quarter fell to $66 million from $83 million a year ago. Net investment incoe for the quarter grew to $73 million from $71 million last year.
Analysts polled by Thomson Reuters expected the company to earn $0.98 per share on revenue of $120.58 million for the first quarter. Analysts' estimates typically exclude special items.
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