Analysts had forecast revenue of $5.37 billion. In North America, revenue was $2.3 billion, a 7% decline from the last quarter. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.https://www.barrons.com/articles/schlumberger-is-slashing-staff-as-virus-hits-revenue-51595624980The oil-services company Schlumberger is eliminating 21,000 jobs after a disastrous quarter. Schlumberger's revenue in the quarter was $5.36 billion, a decline of 35% compared with the $8.27 billion of revenue it achieved in last year's second quarter. This copy is for your personal, non-commercial use only. Schlumberger Ltd. on Friday reported a sharp fall in second-quarter revenue as supply-and-demand imbalances during the Covid-19 pandemic disrupted the global oil industry. West focused on Schlumberger’s three strengths: the ability to generate free cash flow, which ended up at $465 million in the second quarter; its relative resilience in international operations; and its rapid digital transformation, evidenced by a flurry of contracts including a joint digital-drilling development with Analysts polled by FactSet had expected an adjusted loss of 1 cent a share.

Schlumberger Ltd. (NYSE: SLB) reported a total 2019 revenue of $32.92 billion, basically flat with the prior year, according to its fourth-quarter and full-year 2019 financial report. Schlumberger Ltd. slb said Friday it had a net loss of $3.434 billion, or $2.47 a share, in the second quarter, after income of $492 million, or 35 cents a share, in the same period a year ago.

Schlumberger is down 51.5% year to date, while the S&P 500 is down 0.5%, though the stock has far outperformed the index over the past three months.The oil-services company Schlumberger is eliminating 21,000 jobs after a disastrous quarter.Copyright ©2020 Dow Jones & Company, Inc. All Rights ReservedThis copy is for your personal, non-commercial use only. We've detected you are on Internet Explorer. For the best Barrons.com experience, please update to a modern browser. “We are permanently removing $1.5 billion of structural costs annually by reorganizing Schlumberger into a leaner and more responsive company,” Le Peuch told investors. Revenue from the company's production segment declined 48% year-over-year to $1.62 billion. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. He reiterated an Outperform rating with a target of $28 for the stock price.Cowen analyst Marc Bianchi, too, cited the strong earnings as positive, keeping the stock at Outperform, with a $27 price target. Schlumberger (NYSE: SLB) swung to a loss on GAAP basis in the second quarter of 2020, hurt by the $3.7 billion of pretax restructuring and asset impairment charges. Write to Matt Grossman at [email protected]

6th Grade Science Curriculum, Homeschool, Reddit Ukraine Whistleblower Identity, Peggy Rusk Smith Today, Universal Love Dictionary, Scotland Vs England 2-2 Lineup, Rapper Tattoos Face, Charles Evers Trump 2020, Allianz Park Maps, Manu Vunipola Saracens Brothers, Wenwen Han Net Worth, School Funding Crisis, Purpose Meaning In Kannada, Alberta Property Tax Rebate, Medical City Jobs, Tiny Bugs In Bed Not Bed Bugs, Chloe Vaping Commercial, Watchmen Wiki Movie, 10x10 Full Movie, What Channel Is The Warriors Game On Directv, Baby Doll Fly, + 17moreBeachesPorthselau, Broadhaven South, And More, Point Bonita Lighthouse History, Francis Picabia Estate, What Is Zumbini, D-block Europe Mazzaleen, England Croatia 2004 Score, Middle School Movie Online, What Is Itu, Best Community Colleges In Canada For International Students, Engineering Journal List, Soviet Polish War 1921, Rahul Meaning In Bengali, Balkans Market Hotel, Lee Valley Tools News, Types Of Protest, Georgian College Hub, Dan Harris Meditation, Ford Education Cuts 2020, Splashing Richard Serra, Richest Person In Austin, Texas, Best Restaurants In Dillon, Co, Catchy Song Lego Movie 2 Scene, Eastman School Of Music, Post Malone Tattoo Ideas, Mitchell Mcclenaghan Wife Name, Molecular Cloud Pressure, Manners Icona Pop, Adrian Peterson Height And Weight, Secondary School Zones Melbourne Victoria, What Is Considered Corny, Mount Pleasant Tv, Jockey Jose Ortiz, Frasers Group Logo, Charlie Brear 2020, Will Ferrell And Steve Carell Movies, Kroger Wifi Sign In, Ontario Oregon Zip Code, Barry Bonds Pirates, Off-White Size Guide, How Old Is Ferb,