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Schlumberger Limited Message Board

  • bluecheese4u bluecheese4u Jul 19, 2013 8:30 AM Flag

    Schlumberger 2Q profit jumps 50 percent on strong international results

    Schlumberger 2Q profit jumps 50 percent on strong international results

    Posted on July 19, 2013 at 6:23 am by Harry R. Weber

    A sign tower reaches toward the sky at the entrance to Schlumberger's Sugar Land campus. (AP file photo/Pat Sullivan)

    Schlumberger, the world’s largest oil field services firm with principal offices in Paris, Houston and The Hague, reported Friday a 50 percent increase in second-quarter profit on a solid rise in revenue.

    The company said it recorded a profit of $2.10 billion, or $1.57 a share, for the April-June quarter earnings, compared to a profit of $1.40 billion, or $1.05 a share, a year earlier.

    Revenue in the quarter rose 8.1 percent to $11.18 billion from $10.34 billion a year earlier.

    For the first half of the year, profit increased 24 percent to $3.35 billion, or $2.51 a share, compared to $2.70 billion, or $2.02 a share, a year earlier. Six-month revenue rose 7.9 percent to $21.75 billion from $20.15 billion in the year-ago period.

    “Strong Schlumberger second-quarter results were marked by significantly higher international activity, both offshore and in key land markets,” CEO Paal Kibsgaard said in a statement.

    North America operations were boosted in part by strong deep-water activity, while internationally the company saw strong results in the Middle East and Asia. Bright spots included China, Australia, Saudi Arabia and Iraq.

    Latin America operations were weighed down by seasonal issues.

    fuelfix

 
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