By Allison Prang

 

Schlumberger Ltd.'s (SLB) fourth-quarter profit fell as it reported an increase in various charges.

The company said Friday net income was $333 million, down 38% from the comparable quarter a year earlier. Earnings per share were 24 cents, down from 39 cents a share.

Adjusted earnings were 39 cents a share, up from 36 cents a share. Analysts polled by FactSet are expecting adjusted earnings of 37 cents a share

Revenue was $8.23 billion, up 0.6%. Analysts are expecting $8.16 billion in revenue.

The company recorded $456 million in impairment and other charges from items including restructuring in North America and workforce reductions. A year earlier, the company recorded $172 million in various charges.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

January 17, 2020 07:33 ET (12:33 GMT)

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