Schlumberger Profit Slips 20 Percent

Schlumberger has seen its quarterly profit fall some 20 per cent against last year’s Q1 result despite relatively flat revenue.

The oilfield services giant generated Q1 2019 profit of $421 million, or 30 cents per share, on some $50 million higher revenue ($7.87 billion), against profit of $525 million.

Sequentially, the profit fell 22 per cent, with revenues also down some 4 per cent.

According to the company, lower profit reflects reduction in North America land activity and seasonally lower international activity in the Northern Hemisphere.

Schlumberger’s unit Cameron had quarterly revenue of $1.17 billion, of which 48 per cent came from international markets – down 7 per cent sequentially and 10 per cent year-on-year, primarily due to lower OneSubsea and Drilling Systems product revenue.

OneSubsea had $511 million in orders for the first-quarter 2018 and backlog of $2.1 billion.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Aug 2019 >>
MTWTFSS
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 31 1

Submarine Networks World 2019

As the key annual gathering for decision makers in the subsea communications value chain, they offer a dedicated platform…

read more >

8th International Conference 2019 Offshore Wind Power Substations

The International Conference Offshore Wind Power Substations is a technical event for experts in the wind industry.

read more >

Wind Turbine Towers

Wind Turbine Towers is a technical event for experts in the wind industry and the goal is to push forward technical development for future tower concepts.

read more >

Seatrade Europe 2019

The three day event will  take place in the hub of the European cruise industry, Hamburg; Germany…

read more >