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Schlumberger's Q2 beats estimates as margins rise after job cuts

Published Fri, Jul 17, 2015 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

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.

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