HAMILTON, Bermuda (AP) _ Nabors Industries Ltd. (NBR) on Tuesday reported a loss of $117.7 million in its first quarter.
The Hamilton, Bermuda-based company said it had a loss of 36 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The drilling contractor posted revenue of $809.3 million in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $773.8 million.
In the final minutes of trading on Tuesday, the company's shares hit $3.50. A year ago, they were trading at $7.61.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NBR at https://www.zacks.com/ap/NBR