Schlumberger matches Street 3Q forecasts

Markets Associated Press

Schlumberger NV (SLB) on Friday reported third-quarter profit of $545 million.

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On a per-share basis, the The Hague, Netherlands-based company said it had net income of 39 cents. Earnings, adjusted for costs related to mergers and acquisitions, were 42 cents per share.

The results matched Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 42 cents per share.

The world's largest oilfield services company posted revenue of $7.91 billion in the period, also matching Street forecasts.

Schlumberger shares have fallen 23 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 14 percent. The stock has fallen 23 percent in the last 12 months.

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