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Nabors profit jumps after year-ago charge
February 18, 2014 / 9:20 PM / in 4 years

Nabors profit jumps after year-ago charge

Feb 18 (Reuters) - Oilfield services and drilling company Nabors Industries Ltd said on Tuesday its profit jumped after a year-ago charge for discontinued operations.

Nabors, which owns the world’s largest land-drilling rig fleet as well as pressure-pumping equipment for hydraulic fracturing, posted fourth-quarter net income of $150.6 million, or 50 cents per share, compared with $27.1 million, or 9 cents per share, in the year-ago period.

Revenue rose less than 1 percent to $1.6 billion.

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