Schlumberger Limited Earnings: Here’s Why the Stock is Up Now
Schlumberger Limited (NYSE:SLB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.21%.
Schlumberger Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.52% to $1.15 in the quarter versus EPS of $1.05 in the year-earlier quarter.
Revenue: Rose 6.57% to $11.18 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Schlumberger Limited reported adjusted EPS income of $1.15 per share. By that measure, the company beat the mean analyst estimate of $1.1. It beat the average revenue estimate of $11.11 billion.
Quoting Management: Schlumberger CEO Paal Kibsgaard commented, “Strong Schlumberger second-quarter results were marked by significantly higher international activity, both offshore and in key land markets. In North America, we benefited from solid execution on land and further strength in deepwater activity to achieve solid overall progress despite competitive land pricing and the effects of the Western Canada spring break-up. Double-digit sequential revenue growth was recorded by the Reservoir Characterization Group and by the Middle East & Asia and the Europe/CIS/Africa Areas. All Areas displayed strong execution and integration performance that, together with new technology sales, helped operating margins reach or exceed 20% across all geographies.
Key Stats (on next page)…