HAMILTON, Bermuda (AP) _ Nabors Industries Ltd. (NBR) on Tuesday reported a loss of $157.5 million in its third quarter.

The Hamilton, Bermuda-based company said it had a loss of $23.42 per share. Losses, adjusted for one-time gains and costs, came to $22.81 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $24.63 per share.

The drilling contractor posted revenue of $437.6 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $451.1 million.

Nabors shares have decreased 78% since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 4%. In the final minutes of trading on Tuesday, shares hit $31.48, a decline of 69% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NBR at https://www.zacks.com/ap/NBR

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