Nabors Industries (NBR) Lower 4th Quarter Loss

Nabors Industries Ltd. (NYSE: NBR) reported on Tuesday that it had lowered its 4th quarter loss from the same period last year.

The oil drilling company reported a loss of $47.3 million, or 17 cents per share, which was lower than last years $106.7 million, or 38 cents per share, loss.

Adjusted earnings came in at $51.5 million, or 18 cents per share and operating revenue fell from $1.48 billion a year ago to $834.5 million.

A FactSet Research poll of analysts had estimated that Nabors Industries would take in earnings of 16 cents per share on $820 million in revenue.

Nabors Industries shares rose 1.27% on Tuesday, before the earnings report was released.