- Schlumberger (NYSE:SLB) +1.5% AH after Q3 earnings rose 14% Y/Y and beat analyst expectations on solid revenue growth led by its North American operations.
- Q3 revenue at SLB’s North American operations rose 18% to $4.3B, while revenue in international segments gained 5% to $8.3B, led by growth in the Middle East and Asia segment of 6.3%; SLB cites the revenue increase to strong deepwater activity in Mexico, Russia and offshore North America.
- SLB: "While market sentiments are currently driven by fear of short-term oversupply, and although the oil demand outlook has been revised slightly downwards, we see little reason at the present time to change our view [of] a supply-demand situation that is relatively well-balanced."