UPDATE 1-Oilfield service firm Weatherford posts big loss; shares dive [Reuters]
WEATHERFORD INTL (WFT)
Last weatherford intl earnings: 2/1 06:50 am
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US:NYSE Investor Relations:
weatherford.com/en/investor-relations
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Source: Reuters
UPDATE 1-Oilfield service firm Weatherford posts big loss; shares dive | Reuters Reuters Staff 3 Min Read (New throughout, adds details, updates share prices) By Liz Hampton HOUSTON, Feb 2 (Reuters) - Weatherford International Plc on Friday reported a larger-than-expected fourth-quarter loss on $1.6 billion in charges, and its shares slid more than 16 percent on doubts that the oilfield firm is executing a turnaround after years of losses. The quarterly loss widened from a year earlier, despite a general upturn in demand for oilfield services that has benefited rivals. The weaker results could accelerate planned asset sales to pare its $7.5 billion debt pile. Weatherford reported a fourth-quarter loss of 33 cents per share, excluding items, exceeding analysts’ expectations for a 21 cents per share loss, according to Thomson Reuters I/B/E/S. Revenues for the quarter were $1.49 billion, up 6 percent from the same quarter last year but slightly below Wall Street forecasts. Shares tumbled
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