Schlumberger posts first quarterly loss in 12 years

Schlumberger Ltd, the world's No.1 oilfield services provider, reported its first quarterly net loss in 12 years as it recorded more than $2 billion in restructuring and asset impairment charges.

 

Net loss attributable to Schlumberger was $1.02 billion, or 81 cents per share, in the three months ended Dec. 31, compared with a profit of $302 million, or 23 cents per share, a year earlier.

 

Revenue fell 39 percent to $7.74 billion.


(Reporting by Swetha Gopinath in Bengaluru; Editing by Don Sebastian)