FX.co ★ NOV Inc. Q4 Income Retreats, But Beats Estimates

NOC Inc. (NOV) reported a decrease in profits for the fourth quarter compared to the previous year; however, results surpassed analysts' expectations. The company posted a net income of $160 million, which translates to earnings of $0.41 per share, contrasting with $598 million, or $1.51 per share, for the same period last year. Market analysts had projected an average earnings of $0.36 per share, typically excluding any special items. Quarterly revenue experienced a decline of 1.5%, totaling $2.308 billion, down from $2.343 billion in the prior year.

Key Financial Highlights (GAAP):

- Net Income: $160 million, a decrease from $598 million last year.

- Earnings Per Share (EPS): $0.41, compared to last year's $1.51.

- Revenue: $2.308 billion, reduced from $2.343 billion the previous year.