Company Of The Day: Schlumberger

-2.82%
Downside
32.73
Market
31.81
Trefis
SLB: Schlumberger logo
SLB
Schlumberger

What?

Oilfield services major Schlumberger (NYSE:SLB) published a stronger than expected set of Q2 2021 results, with revenues rising 5% year-over-year to $5.63 billion and net income standing at $431 million, compared to a loss last year.

Why?

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With oil prices on the rise, Schlumberger saw activity pick up at its Well Construction, Production Systems, and Digital and Integration segments.

So What?

Schlumberger stock rose by almost 2% following the news. While the company expects growth to remain strong in international markets, it indicated that its U.S. business would grow at a slower pace.

See Our Complete Analysis For Schlumberger

 

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