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Schlumberger reports 4Q loss

CNBC International 2018-01-19 17:49:00

THE HAGUE, Netherlands (AP) _ Schlumberger NV (SLB) on Friday reported a loss of $2.26 billion in its fourth quarter.

The The Hague, Netherlands-based company said it had a loss of $1.63 per share. Earnings, adjusted for non-recurring costs, were 48 cents per share.

The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The world's largest oilfield services company posted revenue of $8.18 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $8.12 billion.

For the year, the company reported that its loss narrowed to $1.51 billion, or $1.08 per share. Revenue was reported as $30.44 billion.

Schlumberger shares have risen 13 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 5 percent. The stock has fallen 13 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLB at https://www.zacks.com/ap/SLB