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National Oilwell Varco: 1Q Earnings Snapshot

HOUSTON (AP) _ National Oilwell Varco (NOV) on Thursday reported a loss of $77 million in its first quarter.

On a per-share basis, the Houston-based company said it had a loss of 20 cents.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The oil and gas industry supplier posted revenue of $1.94 billion in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $1.95 billion.

National Oilwell Varco shares have risen roughly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent. In the final minutes of trading on Thursday, shares hit $26.44, a drop of 31 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOV at https://www.zacks.com/ap/NOV