Oil Services Company Schlumberger Reports Shrinking Q4 Loss, Down Revenue

By Trey Williams Markets MarketWatch Pulse

Schlumberger Ltd. reported a net loss of $204 million, or a loss of 15 cents per share, for the fourth quarter, after a loss of $1.02 billion, or an 81 cent per-share loss during the same quarter a year ago. Adjusted earnings for the quarter came in at 27 cents per share, in line with FactSet's 27 cents consensus. Revenue hit $7.11 billion, down compared with last year's $7.74 billion, but above FactSet's consensus of $7.07 billion. Though down from last year, revenue in the fourth quarter was up from the previous quarter thanks to the production group segment, which grew 5% due to increased hydraulic fracturing activity in the Middle East and North America, according to Schlumberger Chief Executive Paal Kibsgaard. Shares of Schlumberger have gained nearly 43% in the trailing 12-month period, outperforming the S&P 500 Index , which is up nearly 22% during the same time period.

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