SLB: quarterly results slightly better than expected

(CercleFinance.com) - On Friday, SLB reported a stronger-than-expected rise in quarterly earnings, mainly thanks to its dynamic international activities.


The US group, the world leader in oil services, posted Q2 net profit of $1.1bn, or $0.77 per share, compared with $1bn ($0.72 per share) a year earlier.

Excluding non-recurring items, EPS came to $0.85, while analysts were expecting an average of $0.83.

Quarterly sales rose by 13% to $9.1bn, again slightly above consensus.

SLB says that its accounts were underpinned by its international activities, which posted their best performance since 2014 in Q2, with sales growth of 18%.

It adds that it benefited from its solid positioning in key markets known for their resilience, notably in the Middle East and Asian gas sectors.

SLB also believes it has benefited from increased investment by its customers in deepwater basin projects, exploration and digital technologies.

Following this quarterly publication, SLB shares were up 1.7% in pre-market trading on Friday.


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