Schlumberger Profit Misses Estimates on Mideast Income Drop
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Schlumberger Ltd., the world’s largest oilfield-services provider, reported third-quarter profit that failed to meet analysts’ estimates as income from the Middle East and Asia declined.
Net income fell to $1.3 billion, or 96 cents a share, from $1.73 billion, or $1.38, a year earlier, Houston- and Paris- based Schlumberger said in a statement today. Last year’s quarterly result included one-time gains from Schlumberger’s purchase of Smith International Inc.