Weatherford (WFT) Tops Q2 EPS by 2c

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Go back to Weatherford (WFT) Tops Q2 EPS by 2c

Weatherford Reports Second Quarter 2016 Results

July 27, 2016 4:16 PM EDT

BAAR, Switzerland, July 27, 2016 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) reported GAAP net loss for the second quarter of 2016 of $565 million, or a net loss of $0.63 per share, and adjusted net loss before charges and credits of $253 million ($0.28 adjusted net loss per share) on revenues of $1.40 billion for the second quarter of 2016.

Second Quarter 2016 Highlights

Industry leading operating income decrementals of 6% sequentially and 24% year-over-year; sequential incrementals of 50% (GAAP basis); Ceased operations in three manufacturing and service facilities, a year-to-date total of seven of the nine planned... More

Weatherford Teams with IBM for Next-Generation Production Optimization Solutions

July 26, 2016 4:20 PM EDT

BAAR, Switzerland, July 26, 2016 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) today announced that it has signed a Joint Initiative Agreement (JIA) with IBM (NYSE: IBM) to collaborate on the development of new products and services for oil and gas producers that leverage IBM advanced analytics and Internet of Things (IoT) capabilities on the IBM Cloud and further strengthen Weatherford's industry-leading production optimization technologies.

Through the joint initiative Weatherford and IBM will develop new analytics solutions, all available via IBM Cloud, that are based on... More