Weatherford (WFT) Reports In-Line Q2 EPS

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Go back to Weatherford (WFT) Reports In-Line Q2 EPS

Weatherford Reports Second Quarter 2017 Results

July 28, 2017 7:00 AM EDT

BAAR, Switzerland, July 28, 2017 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) reported a net loss of $171 million, or a loss of $0.17 per share, and a non-GAAP net loss of $282 million before charges and credits ($0.28 non-GAAP loss per share) on revenues of $1.36 billion for the second quarter of 2017.

Second Quarter 2017 Highlights

Excluding the adjustment related to a change in our revenue recognition in Venezuela, operating margins improved by 400 basis points sequentially; Net cash used in operating activities was $62 million, a sequential improvement of 65%;... More