Schlumberger: Q2 above expectations.
(CercleFinance.com) - Schlumberger's Q2 accounts, which were released before Wall Street opened on Friday, were marked by a sharp reduction in its loss relative to the previous year.
The loss per share was reduced to 5 cents, compared to 1.56 dollar in the same period last year. The fact that Schlumberger was in the red over the period is particularly due to a charge of 510 million dollars, mainly linked to a financial agreement with one of its clients in Venezuela.
Excluding extraordinary items, the oil group nevertheless reported EPS of 35 cents, i.e. 5 above the consensus.
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The loss per share was reduced to 5 cents, compared to 1.56 dollar in the same period last year. The fact that Schlumberger was in the red over the period is particularly due to a charge of 510 million dollars, mainly linked to a financial agreement with one of its clients in Venezuela.
Excluding extraordinary items, the oil group nevertheless reported EPS of 35 cents, i.e. 5 above the consensus.
Copyright (c) 2017 CercleFinance.com. All rights reserved.