Nabors Q1 Results Top Estimates

(RTTNews) - Nabors Industries Ltd. (NBR) reported net income for the first quarter of $123.6 million or $0.42 per share, compared to $49.9 million or $0.16 per share for the year-ago quarter.

Income from continuing operations for the first quarter was $124.4 million or $0.43 per share, compared to $49.0 million or $0.16 per share in the prior year quarter.

Excluding items, adjusted net income for the latest quarter was $58.3 million or $0.20 per share.

Total revenue and other income for the first quarter fell to $1.42 billion from $1.59 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.04 per share on revenue of $1.34 billion for the first quarter. Analysts' estimates typically exclude special items.