Schlumberger Ltd. Q3 Income Drops 64%

(RTTNews) - Schlumberger Ltd. (SLB) released earnings for third quarter that declined compared to the same period last year.

The company said its bottom line came in at $353 million, or $0.25 per share. This was lower than $989 million, or $0.78 per share, in last year's third quarter.

Analysts had expected the company to earn $0.22 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 17.1% to $7.02 billion. This was down from $8.47 billion last year.

Schlumberger Ltd. earnings at a glance:

-Earnings (Q3): $353 Mln. vs. $989 Mln. last year. -Earnings Decline (Y-o-Y): -64.3% -EPS (Q3): $0.25 vs. $0.78 last year. -EPS Decline (Y-o-Y): -67.9% -Analysts Estimate: $0.22 -Revenue (Q3): $7.02 Bln vs. $8.47 Bln last year. -Revenue Change (Y-o-Y): -17.1%