Weatherford International Ltd. WFT, -13.58% on Friday reported a wider fourth-quarter loss after the company recorded impairment charges and wrote down assets, though it said it expects significant improvements in the first quarter.
The Baar, Switzerland-based oilfield service company recorded a quarterly loss of $1.94 billion, or $1.95 a share, compared with a loss of $549 million, or 59 cents a share, for the same period a year earlier. Excluding items, Weatherford reported an adjusted loss of 33 cents a share for the quarter, compared with 32 cents a share the year before.
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