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>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 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

EXPLORATION AND PRODUCTION OFFSHORE CONGRESS HUB 2019

During the last few years Oil&Gas sector had a difficult time surviving in brutal low-price environment…

read more >

Brasil Offshore 2019

The commemorative 20th anniversary edition of Brasil Offshore will be held under the auspices…

read more >

Subsea EMEA 2019

Subsea EMEA, the elite submarine cable-focused event hosted by Capacity Media, will return for its third year situated…

read more >

9th International Conference Offshore Foundations

Offshore Foundations is a technical event for experts in the wind industry. The goal is to push forward technical development for future foundation concepts.

read more >