HOUSTON (AP) — HOUSTON (AP) — NOV Inc. (NOV) on Wednesday reported a loss of $78 million in its fourth quarter.
On a per-share basis, the Houston-based company said it had a loss of 21 cents. Earnings, adjusted for non-recurring costs, were 2 cents per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The oil and gas industry supplier posted revenue of $2.28 billion in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $2.17 billion.
For the year, the company reported profit of $145 million, or 39 cents per share. Revenue was reported as $8.74 billion.
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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
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