HOUSTON (AP) — HOUSTON (AP) — NOV Inc. (NOV) on Monday reported fourth-quarter net income of $104 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had profit of 26 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The oil and gas industry supplier posted revenue of $2.07 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $1.95 billion.
For the year, the company reported net income of $155 million, or 39 cents per share, swinging to a profit in the period. Revenue was reported as $7.24 billion.
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