Home » News » View News

Schlumberger 4Q profit falls in seasonal slowdown

Font size

Posted: Jan 18, 2013 5:48 AM

Updated: Jan 18, 2013 5:48 AM

HOUSTON (AP) Fourth-quarter net income for Houston-based Schlumberger Ltd. (SHLUM'-bur-zhay) fell 4 percent, pressured by seasonal slowdowns, contract delays and project startup costs.

The world's biggest oilfield services company said Friday that 2013's global oil demand is expected to climb at similar levels to a year ago.

For the period ended Dec. 31, Schlumberger earned $1.36 billion, or $1.02 per share, down from $1.41 billion, or $1.05 per share, a year earlier.

Stripping out charges and credits, earnings were $1.08 per share. This met the expectations of analysts surveyed by FactSet.

Revenue rose 8 percent to $11.17 billion from $10.3 billion, helped by strength internationally and tight service capacity for some product lines.

Topics: Earns-Schlumberger

KRGV is Social