Schlumberger Earnings: Surges Past Analyst Estimates
Schlumberger Limited (NYSE:SLB) exceeded Wall Street analyst estimates on both the top and bottom line. Both wins are positive signs to shareholders seeking to preserve their confidence in the company’s performance. Shares are up 0.72%.
Schlumberger Limited Earnings Cheat Sheet
Results: Net income decreased -3.75% to $1.36 billion ($1.08 per diluted share) in the quarter versus a net gain of $1.41 billion in the year-earlier quarter.
Revenue: Rose 1.46% to $11.17 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Schlumberger Limited reported adjusted net income of $1.08 per share. By that measure, the company beat the mean analyst estimate of $1.07. It beat the average revenue estimate of $10.82 billion.
Quoting Management: “We capped the year with revenues of over $42 billion, up by 14%, with the International Areas growing by $4 billion, or 16%, their strongest growth by far since 2008. International grew from robust exploration and development activity, both offshore and in key land markets…