Sunday, February 16, 2020

Global Demand Lifts Schlumberger Profits

January 17, 2020

© Igor Golovnev / Adobe Stock

Schlumberger NV reported a 9.4% rise in adjusted quarterly profit on Friday, as buoyant demand in international markets helped the world's largest oilfield services provider make up for lower drilling activity in North America.

Net income fell to $333 million, or 24 cents per share, in the fourth quarter ended Dec. 31, from $538 million, or 39 cents per share, a year earlier.

The year-ago quarter included a gain from an asset sale.

Excluding charges and credits, net income rose to $545 million, or 39 cents per share, from $498 million, or 36 cents per share.


(Reporting by Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila)

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