Market News

Schlumberger Posts Robust Q3 Results

Schlumberger (NYSE: SLB) reported Q3 revenues of $7.5 billion, an increase of 28% year-over-year, exceeding analysts’ estimates by $400 million.

The oilfield services company’s adjusted earnings came in at $0.63 per share, up 75% year-on-year, beating Street estimates of $0.55.

Schlumberger CEO Olivier Le Peuch commented, “The second half of the year is off to a great start with strong third-quarter results that reflect the acceleration of international momentum and solid execution across our Divisions and areas.”

Peuch added, “Sequentially, we delivered another quarter of double-digit revenue growth and margin expansion, as the pace of growth in our international business stepped up significantly, complementing already robust levels of activity in North America.”

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