HOUSTON (AP) 鈥� HOUSTON (AP) 鈥� Patterson-UTI Energy Inc. (PTEN) on Wednesday reported a loss of $24.6 million in its first quarter.
On a per-share basis, the Houston-based company said it had a loss of 6 cents.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The provider of onshore contract drilling services posted revenue of $1.12 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.08 billion.
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