US Markets
SLB

EARNINGS-Schlumberger posts second-straight quarterly loss on $3.7 bln charges

Credit: REUTERS/RICHARD CARSON

Oilfield services giant Schlumberger NV on Friday reported its second straight quarterly loss after recording $3.7 billion in impairment and restructuring charges as its major customers pulled back activity amid this year's oil price crash.

July 24 (Reuters) - Oilfield services giant Schlumberger NV on Friday reported its second straight quarterly loss after recording $3.7 billion in impairment and restructuring charges as its major customers pulled back activity amid this year's oil price crash.

The world's largest oilfield services provider reported a net loss of $3.43 billion, or $2.47 per share, in the second quarter ended June 30, compared with a profit of $492 million, or 35 cents per share, a year earlier.

The company said it took $1 billion in severance charges during the quarter as it cut over 21,000 employees.

Excluding charges and credits, the company earned 5 cents per share. (Reporting by Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila) ((Shariq.Khan@thomsonreuters.com; Within U.S.+1 646 223 8780, outside U.S. +91 80 6182 2681; Twitter: @shariqrtrs;)) Keywords: SCHLUMBERGER RESULTS/ (URGENT)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

SLB BKR HAL

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More