North American revenue down 12% sequentially
Schlumberger (stock ticker: $SLB) kicked off the quarterly earnings season today, announcing net earnings of $538 million, or $0.39 per share.

Schlumberger’s Q4 2018 results present a mixed comparison to its Q4 2017 results. At $8.2 billion, revenue is flat while operating income is down 16%. The company reported a loss last year, so the $538 million in net income is a drastic improvement.

As was forecasted by Schlumberger and others in the service industry, operations in North America dropped sharply this quarter as companies exhausted budgets and falling oil prices squeezed margins. North American revenue fell by 12% sequentially but is flat with Q4 2017 levels. Schlumberger reports it warm-s...


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