Seeking Alpha

Schlumberger Q3 profit up 20%, shares +3.3% premarket

  • Schlumberger's (SLB) +3.3% premarket after Q3 earnings rose 20% Y/Y and 10% Q/Q on strong oilfield services revenue in the Middle East and Asia region, driven by growth in Saudi Arabia and Iraq.
  • Oilfield services revenue from the Middle East and Asia jumped 25% and rose 9% in North America; SLB generates nearly 70% of its revenue from operations outside North America.
  • Overall oilfield Services revenue of $11.6B was up 11% Y/Y and 4% Q/Q; however, cost of sales climbed to $8.93B from $8.24B.
  • A lower-than-expected 22.7% tax rate contributed $0.02 to the $0.05 earnings beat.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs