mercoledì 13 agosto 2008

Ambac financial 2q earnings more than

Ambac Financial Group Inc. on Wednesday reported an operating loss during the second quarter because of expected losses on insurance contracts, but at the same time posted a net profit because of how it must account for special non-cash gains from the same complex portfolio.

Net income for the quarter ended June 30 rose to $823.1 million, or $2.80 per share, from $173 million, or $1.67 per share, during the same quarter last year. Read more: