Schlumberger N.V. (NYSE:SLB) revealed its second quarter earnings results on Friday 24th July 2020 before market open.
Key Numbers from second quarter earnings result
- Quarterly loss of $ 2.47 per share, from the revenue of $ 5,356.00 million
- On adjusted basis, reported income of $ 0.05 per share
- Analysts Estimated revenue of $ 5364.85 million and $ 0.01 loss per share
- Revenues fell short of wall street view by $ 8.85 million or 0.16 percent
- Revenues declined 35.23 percent versus second quarter of last year.
Schlumberger CEO Olivier Le Peuch commented, This has probably been the most challenging quarter in past decades. Schlumberger second-quarter revenue declined 28% sequentially, caused by the unprecedented fall in North America activity, and international activity drop due to downward revisions to customer budgets accentuated by COVID-19 disruptions. This speaks volumes about an industry confronted with historic oil demand and supply imbalances caused by demand destruction from the global COVID-19 containment effort.
The Board of Directors approved a quarterly cash dividend of $0.125 per share of outstanding common stock, payable on October 8, 2020 to stockholders of record on September 2, 2020.
