NEW YORK (AP) _ Ambac Financial Group Inc. (AMBC) on Monday reported a loss of $280 million in its first quarter.

On a per-share basis, the New York-based company said it had a loss of $6.07. Losses, adjusted for non-recurring costs, came to $5.75 per share.

Ambac shares have dropped 27% since the beginning of the year. The stock has decreased 16% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMBC at https://www.zacks.com/ap/AMBC

Automated Insights, source Associated Press News