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7/23, 12:51 PM (Source: TeleTrader)
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Schlumberger Q2 revenue at $5.6B, up 5% YoY

Schlumberger Limited announced on Friday that its revenue for the second quarter of the year stood at $5.6 billion, constituting a 5% annual increase. Moreover, it also showcased an 8% gain compared to the previous quarter.

The company's net income rose from $299 million to $431 million for a quarterly rise of 44%, while its diluted earnings per share (EPS) were 43% higher over the past quarter to $0.30.

Schlumberger Chief Executive Office Olivier Le Peuch commented on the results saying: "Our second-quarter results demonstrate the broad strength of our portfolio...and our enhanced ability to capture and translate activity growth into sustained margin expansion and strong free cash flow. The quarter marks a leap forward in achieving our full-year financial targets with the potential for further upside given the right conditions."

Schlumberger shares increased 1.86% in the premarket trade following the release of the report.

Breaking the News / OL