Press "Enter" to skip to content

Schlumberger posts second-straight quarterly loss on…

July 24 – Oilfield services giant Schlumberger NV on Friday reported its second straight quarterly loss after recording $3.7 billion in impairment and restructuring charges as its major customers pulled back activity amid this year’s oil price crash.

The world’s largest oilfield services provider reported a net loss of $3.43 billion, or $2.47 per share, in the second quarter ended June 30, compared with a profit of $492 million, or 35 cents per share, a year earlier.

The company said it took $1 billion in severance charges during the quarter as it cut over 21,000 employees.

Excluding charges and credits, the company earned 5 cents per share. (Reporting by Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila)

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *