Oil Service Company Weatherford Posts Lower Profit

摘要

(Reuters) - Weatherford International Ltd. reported a 77% drop in quarterly profit, steeper than Wall Street had expected, as pricing dropped sharply in the United States and Canada, and the oilfield services company's shares fell five per cent. Income from continuing operations was $69.5 million (U.S.), or 10 cents per share, compared with $299.7 million, or 43 cents per share, a year earlier, the Switzerland-based company said Monday. Weatherford said revenue dropped 11% to $1.99 billion as its global rig count decreased by 35%.