Nabors Q2 Net Loss Narrows

(RTTNews) - Nabors Industries Ltd. (NBR) reported a net loss for the second quarter of $4.4 million or $0.01 per share, compared to a net loss of $72.8 million or $0.25 per share for the year-ago quarter.

Net income from continuing operations was $29.3 million or 0.08 per share, compared to a net loss from continuing operations of $98.7 million or $0.34 per share in the prior year quarter.

Total revenue and other income for the second quarter fell to $1.51 billion from $1.61 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.09 per share on revenue of $1.50 billion for the second quarter.