Schlumberger's Q2 beats estimates as margins rise after job cuts
Houston
SCHLUMBERGER Ltd is beginning to reap some benefits from more than 20,000 job cuts announced this year to weather the oil-price crash.
The world's largest oilfield services provider earned 88 US cents a share in the second quarter, beating the 79-cent average of 37 estimates compiled by Bloomberg. Profit margins at its international business, which generates about three-quarters of sales, climbed to 24.5 per cent from 24 per cent a year earlier.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data
Oil settles lower as US business activity cools, concerns over Middle East ease
Orsted says Taiwan wind project to power TSMC on track for 2025 finish