Schlumberger Reports Higher 2Q Profit, Sales Fall Slightly
July 19 2019 - 7:46AM
Dow Jones News
By Aisha Al-Muslim
Schlumberger Ltd.'s (SLB) earnings results for the latest
quarter met analysts' expectations, but the oil-field services
company's revenue declined in North America, pushing sales to fall
a bit year-over-year.
The Houston company reported Friday a profit for the second
quarter of $492 million, or 35 cents a share, up from $430 million,
or 31 cents a share, a year earlier.
Adjusted earnings were 35 cents a share, in-line with what
analysts polled by FactSet were looking for.
Sales fell 0.4% year-over-year, to $8.27 billion, above the
consensus forecast of $8.11 billion.
Schlumberger's North American revenue decreased 11% from a year
ago, to $2.8 billion, while international revenue was up 8%, to
$5.46 billion.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
July 19, 2019 07:31 ET (11:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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