January 9, 2020 / 6:12 AM / a month ago

Seismic surveyor TGS Q4 revenue misses forecast

OSLO, Jan 9 (Reuters) - Norway’s TGS, a supplier of seismic data to the global oil industry, reported lower-than-expected fourth-quarter revenue on Thursday.

So-called net segment revenue hit $230 million for the October-December period, while analysts on average had expected revenue of $257 million, according to forecasts published by Refinitiv.

TGS did not provide a year-ago comparison for the fourth quarter, but said full-year revenue was up 16.2% from 2018 and that the sales outlook for the first quarter of 2020 was “promising”. (Reporting by Terje Solsvik; Editing by Himani Sarkar)

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