Weatherford posts Q4 loss, revenue ahead of estimates

Tue Feb 26, 2013 5:50pm EST

Feb 26 (Reuters) - Oilfield services company Weatherford International Ltd posted on Monday a loss for the fourth quarter, hit by a sharp decline in North American earnings, though its overall revenue came in ahead of analysts' estimates.

Weatherford posted a fourth-quarter loss of $122 million, or 16 cents per share, compared with a loss of $13 million, or 2 cents per share, a year ago. Excluding items including costs of a tax remediation efforts and losses associated with Iraq contracts, the company earned $8 million, or 1 cent per share.

Revenue increased by 9 percent to $4.06 billion, ahead of the average estimate of $3.91 billion on Thomson Reuters I/B/E/S.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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