For the second quarter, Schlumberger (NYSE:SLB) saw a rise in net income, beating Wall Street expectations.
Earnings and Revenue The company's EPS topped estimates and revenues came in line with Wall Street's expectations. The company reported EPS of $1.05 a share versus the $1 a share estimate and revenues of $10.45 billion versus the $10.41 billion estimate. The estimates of 23 analysts ranged from profit of 96 cents to profit of $1.05.
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The company's net income for the quarter was $1.4 billion. This is 4.8% higher than the year-ago quarter. Revenue climbed 8.6% from $9.62 billion in the same period last year.
Company Fundamental Trends Last quarter marked the third in a row of rising net income. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company has now topped analyst estimates for the last three quarters.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.