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Noble Group posts net loss of US$28 mil for 3Q

Gwyneth Yeo
Gwyneth Yeo11/10/2016 06:36 PM GMT+08  • 2 min read
Noble Group posts net loss of US$28 mil for 3Q
SINGAPORE (Nov 10): Noble Group has reported a net loss of US$28.1 million ($39.4 million) for 3Q16, compared with earnings of US$24.7 million in 3Q15.
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SINGAPORE (Nov 10): Noble Group has reported a net loss of US$28.1 million ($39.4 million) for 3Q16, compared with earnings of US$24.7 million in 3Q15.

The losses included a US$60.2 million loss from discontinuing businesses during the current quarter, compared with a loss from discontinuing businesses of US$9.8 million in 3Q15.

Revenue fell 38% to US$11.6 billion on the back of lower revenue recognition among all of the group’s business segments.

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