Schlumberger Ups Revenue and Reduces Quarterly Loss

Oilfield services major Schlumberger has posted second-quarter 2017 loss of $74 million, or 5 cents per diluted share, versus loss of $2.16 billion, or $1.56 per diluted share same time last year.

Sequentially, the profit was at $488 million against $347 million, excluding charges and credits, however the company ended the previous quarter in black with $ 279 million profit.

Schlumberger’s revenue was up 4 percent year-on-year at $7.46 billion, from $7.16 billion in the corresponding period in 2016, and also increased 8 percent sequentially.

Cameron revenue of $1.26 billion increased 3 percent sequentially but fell 17 percent year-on-year. OneSubsea had orders of $181 million and a backlog of $2.37 billion at the end of second quarter 2017.

Schlumberger reported quarterly cash flow from operations of $858 million, and $1.5 billion for the first half of 2017.

The company approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on October 13, 2017 to stockholders of record on September 6, 2017.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

IMDEX Asia 2019

Coming to its 12th edition, the biennial IMDEX Asia is Asia Pacific’s premier international maritime…

read more >

OWI APAC 2019

Over the two-day conference, 30 expert speakers will share exclusive insight on the latest…

read more >

Sea-Air-Space

The Sea-Air-Space Exposition will continue to support the mission of the Navy League…

read more >

The Offshore Technology Conference (OTC)

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas…

read more >