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Schlumberger stock falls after profit matches expectations but revenue misses

·1 min read
Schlumberger stock falls after profit matches expectations but revenue misses
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Shares of Schlumberger Ltd. slumped 0.9% in premarket trading Friday, after the oil services company reported a third-quarter profit that matched expectations but revenue rose missed, but provided an upbeat outlook oil and gas demand. The company swung to net income of $550 million, or 39 cents a share, from a loss of $82 million, or 6 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share more than doubled to 36 cents from 16 cents, compared with the Fa