Weatherford posts Q4 loss, revenue ahead of estimates

Tue Feb 26, 2013 5:53pm 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.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.