Schlumberger Ltd. reported that fourth-quarter income rose 22% as oil-field services revenue jumped in the Middle East and Asia.
Schlumberger Ltd. reported that fourth-quarter income rose 22% as
oil-field services revenue jumped in the
Middle East
and
Asia
.
The oil-field services company has reported strong revenue growth in recent
years as ramped-up activity in areas such as
Canada
and
the deepwater U.S. Gulf of Mexico helped offset weakness in onshore
North
America
revenue.
Schlumberger posted a profit of $1.66 billion, or $1.26 a share, up from $1.36
billion, or $1.02 a share, a year earlier. Excluding provision for accounts receivable
and other items, earnings were $1.35 a share, up from $1.04 a share.
Revenue grew 7.4% to $11.91 billion.
Analysts surveyed by Thomson Reuters projected a profit of $1.32 a share on
$11.99 billion in revenue.
Oil-field services revenue from
North America
grew
6.6%. The Europe/Commonwealth of Independent States/
Africa
region's revenue rose 8.6%.
Revenue increased 18% from the
Middle East
and
Asia
but
fell 3.4% in
Latin America
.
On Thursday, Schlumberger raised its quarterly dividend 28% to 40 cents a share.
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