Schlumberger Reports Loss From Asset Impairments

EarningsReuters

Schlumberger Ltd, the world's No.1 oilfield services provider, reported a quarterly loss, compared with a profit a year earlier, as it took a charge of $2.57 billion related to asset impairments and job cuts.

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Net loss attributable to the company was $2.16 billion, or $1.56 per share, in the second quarter ended June 30, compared with a profit of $1.12 million, or 88 cents per share, a year earlier.

Revenue fell 20.5 percent to $7.16 billion. (Reporting by Arathy S Nair in Bengaluru; Editing by Don Sebastian)