LONDON (AP) _ Noble Corp. (NE) reported a loss of $1.3 billion in its fourth quarter.
The London-based company said it had a loss of $5.36 per share. Losses, adjusted for asset impairment costs, were 15 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The offshore drilling contractor posted revenue of $410.2 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $397.9 million.
For the year, the company reported a loss of $929.6 million, or $3.82 per share, swinging to a loss in the period. Revenue was reported as $2.3 billion.
Noble Corp. shares have climbed 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 3 percent. In the final minutes of trading on Thursday, shares hit $6.63, a decline of almost 9 percent in the last 12 months.
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