MBIA's first-quarter loss of $2.4 billion, or $13.03 a share, compares with a profit of $198.6 million in the first three months of 2007. On average, analysts estimated the troubled bond insurer would post a loss of 11 cents per share. MBIA said $3.6 billion in unrealized losses related to insured derivatives were included in the results. MBIA's share price climbed 4.5% as investors took a liking to the news, figuring the loss would not cost the agency its AAA-rating.
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