HAMILTON, Bermuda (AP) _ Nabors Industries Ltd. (NBR) on Tuesday reported a loss of $114.6 million in its third quarter.
The Hamilton, Bermuda-based company said it had a loss of 35 cents per share. Losses, adjusted to account for discontinued operations, were 31 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The drilling contractor posted revenue of $778.1 million in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $800.4 million.
In the final minutes of trading on Tuesday, the company's shares hit $4.73. A year ago, they were trading at $5.55.
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