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Schlumberger makes healthy gains in Q3 2018

Schlumberger posted a rise in profit and revenue in the Q3.


New York, October 19 - Neftegaz.RU. Schlumberger's Q3 profit increased 18.2 % on stronger performances in North America.

 

Schlumberger has reported a healthy increase in pretax profit for Q3 2018. The company reported a profit of $644 million or $0.46 per share. This compares with $545 million, or $0.39 per share, in the Q3 2017. Schlumberger 's revenue for the quarter rose 7.5% to $8.50 billion from $7.91 billion last year.

 

The CEO Paal Kibsgaard said: «Looking at pricing and contracts, we continued to see improvements in terms and conditions and basic rates for selected contracts in the international markets. However, this has yet to make a significant impact on our results.»

 

«Through the work we have done over the past 4 years to expand our external offering and modernize our internal execution platform, we are very well positioned to outgrow the market in the coming upcycle and to generate superior operating margins and cash returns for the benefit of our shareholders», he noted.

 

 

Source : Neftegaz.RU