Investing.com - Financial Markets Worldwide

CORRECTED-Schlumberger profit nearly halves as oil spending cuts weigh

Published 2016-04-21, 05:08 p/m
© Reuters. CORRECTED-Schlumberger profit nearly halves as oil spending cuts weigh

(Corrects paragraph 2 to say Q1 net profit, not loss, was $501
mln)
April 21 (Reuters) - Schlumberger Ltd SLB.N , the world's
No.1 oilfield services provider, reported a 48.6 percent slump
in quarterly profit, as spending cuts by oil producers continued
to take a toll.
Net profit attributable to the company was $501 million, or
40 cents per share, in the first quarter ended March 31,
compared with a profit of $975 million, or 76 cents per share, a
year earlier.
Revenue fell 36 percent to $6.52 billion.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.