UPDATE: Schlumberger Posts Upbeat Q4 Profit
Schlumberger (NYSE: SLB) reported a 3.7% drop in its fourth-quarter earnings.
Schlumberger's quarterly profit fell to $1.36 billion, or $1.02 per share, from $1.41 billion, or $1.05 per share, in the year-ago period. Excluding items, its earnings from continuing operations came in at $1.08 per share.
Its revenue climbed 8.5% to $11.17 billion. However, analysts were expecting earnings of $1.07 per share on revenue of $10.82 billion.
Its operating margin declined to 16.2% from 18.2%.
Schlumberger shares closed at $73.37 yesterday.
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