Schlumberger Earnings Advance as Customers Boost Spending
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Schlumberger Ltd., the largest oilfield-services provider, said fourth-quarter profit rose 22 percent as customers spent more in the search for harder-to-reach deposits around the globe.
Net income climbed to $1.66 billion, or $1.26 a share, from $1.36 billion, or $1.02, a year earlier, Houston- and Paris-based Schlumberger said today in a statement. Excluding one-time items, profit exceeded the $1.32 average of 33 analysts’ estimates compiled by Bloomberg. Sales climbed 7.4 percent to $11.9 billion.