NEW YORK (AP) _ Ambac Financial Group Inc. (AMBC) on Monday reported third-quarter net income of $17 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had net income of 35 cents per share. Earnings, adjusted for non-recurring costs, were 53 cents per share.

The bond insurer posted revenue of $51 million in the period.

Ambac shares have risen 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.51, a climb of 37% 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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News