Schlumberger stock was up on Friday following the release of its earnings report for the third quarter of 2018.
Schlumberger’s (NYSE:SLB) earnings report for the third quarter of the year includes earnings per share of 46 cents. This is up from the company’s earnings per share of 42 cents from the same period of the year prior. It is also a boon to Schlumberger stock by coming in above Wall Streets’ earnings per share estimate of 45 cents for the quarter.
Schlumberger also reported net income of $644 million during the third quarter of 2018. This is an increase over the company’s net income of $545 million that was reported in the third quarter of 2017.
The most recent earnings report from Schlumberger also saw it reporting operating income of $1.15 billion. The oilfield services company reported operating income of $1.06 billion in during the same time last year.
During the third quarter of the year, Schlumberger reported revenue of $8.50 billion. This is better than the company’s revenue of $7.91 billion that was reported in the third quarter of the previous year. However, it missed analysts’ revenue estimate of $8.58 billion for the period, but that wasn’t enough to keep Schlumberger stock down today.
Schlumberger’s net revenue for the third quarter of 2018 includes $3.19 billion in revenue from its North America business. When it comes to its International business, revenue was $5.22 billion. The breakdown of revenue for the same time last year was $2.60 billion for North America and $5.15 billion for International.
SLB stock was up 1% as of noon Friday, but is down 15% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
