Schlumberger Ltd. Announces 58% Drop In Q4 Profit

(RTTNews) - Schlumberger Ltd. (SLB) reported a profit for fourth quarter that retreated compared to the same period last year.

The company said its earnings declined to $0.82 billion, or $0.65 per share. This was lower than $1.94 billion, or $1.50 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.63 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 38.8% to $7.74 billion. This was down from $12.64 billion last year.

Schlumberger Ltd. earnings at a glance:

-Earnings (Q4): $0.82 Bln. vs. $1.94 Bln. last year. -Earnings Decline (Y-o-Y): -57.7% -EPS (Q4): $0.65 vs. $1.50 last year. -EPS Decline (Y-o-Y): -56.7% -Analysts Estimate: $0.63 -Revenue (Q4): $7.74 Bln vs. $12.64 Bln last year. -Revenue Change (Y-o-Y): -38.8%