Weatherford Q2 Results Top Estimates

(RTTNews) - Weatherford International plc (WFT) reported a net loss for the second quarter of $489 million or $0.63 per share, compared to a net loss of $145 million or $0.19 per share for the year-ago quarter.

Excluding items, adjusted net loss for the second quarter was $77 million or $0.10 per share, compared to net income of $186 million or $0.24 per share in the prior year quarter.

Revenue for the second quarter fell 36% to $2.39 billion from $3.71 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share on revenue of $2.28 billion for the second quarter. Analysts' estimates typically exclude special items.