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Schlumberger and Halliburton’s 1Q18 Earnings Improved

Alex Chamberlin
Schlumberger and Halliburton’s 1Q18 Earnings Improved

In 1Q18, Schlumberger (SLB) reported a net income of $530 million—an 87% improvement compared to its net income of nearly $284 million in 1Q17. For Schlumberger, 96% operating income growth year-over-year in the Production group and 28% operating income growth in the Drilling group helped improve the company’s bottom line in 1Q18. Compared to 4Q17 when Schlumberger recorded a net loss of $2.25 billion, the net income in 1Q18 was a marked improvement. Schlumberger’s net income in 4Q17 was lower due to some major one-time charges.