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Schlumberger Reports Q2 Earnings, CEO To Retire

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Schlumberger Reports Q2 Earnings, CEO To Retire

Schlumberger (NYSE: SLB) reported second-quarter earnings of 35 cents per share, which met the analyst consensus estimate. This is a 18.6% decrease over earnings of 43 cents per share from the same period last year.

The company reported quarterly sales of $8.269 billion, which beat the analyst consensus estimate of $8.11 billion by 1.96%. This is a 0.41% decrease over sales of $8.303 billion the same period last year.

The company also said CEO Paal Kibsgaard will retire. Olivier Le Peuch has been named his replacement.

Schlumberger shares are trading higher by 1.3% at $39.25 in Friday’s pre-market session. The stock has a 52-week high of $68.43 and a 52-week low of $34.46.

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