Schlumberger Reports Higher 2Q Profit, Sales Fall Slightly

Date : 07/19/2019 @ 12:46PM
Source : Dow Jones News
Stock : Schlumberger Ltd (SLB)
Quote : 37.3  -0.46 (-1.22%) @ 12:59AM

Schlumberger Reports Higher 2Q Profit, Sales Fall Slightly

Schlumberger (NYSE:SLB)
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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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