NEW YORK (AP) _ Ambac Financial Group Inc. (AMBC) on Tuesday reported first-quarter earnings of $2 million.

The New York-based company said it had net income of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 30 cents per share.

The bond insurer posted revenue of $119 million in the period.

Ambac shares have declined 55% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.30, a decrease of 54% 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

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