Schlumberger Ltd. Reveals 100% Decline In Q2 Bottom Line

(RTTNews) - Schlumberger Ltd. (SLB) reported earnings for second quarter that declined from last year.

The company said its earnings came in at $0.32 million, or $0.23 per share. This was down from $1.12 billion, or $0.88 per share, in last year's second quarter.

Analysts had expected the company to earn $0.21 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 20.5% to $7.16 billion. This was down from $9.01 billion last year.

Schlumberger Ltd. earnings at a glance:

-Earnings (Q2): $0.32 Mln. vs. $1.12 Bln. last year. -Earnings Decline (Y-o-Y): -100.0% -EPS (Q2): $0.23 vs. $0.88 last year. -EPS Decline (Y-o-Y): -73.9% -Analysts Estimate: $0.21 -Revenue (Q2): $7.16 Bln vs. $9.01 Bln last year. -Revenue Change (Y-o-Y): -20.5%