Oilfield services provider Schlumberger Ltd. (SLB: Quote) posted higher second-quarter net income attributable to the company of $2.1 billion, or $1.57 per share, versus last year's $1.4 billion, or $1.05 per share.
Excluding charges and credits, quarterly income from continuing operations attributable to Schlumberger totaled $1.54 billion, or $1.15 per share. On average, 33 analysts polled by Thomson Reuters expected earnings per share of $1.10 for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked 11.18 billion in revenues for the quarter, up from last year's $10.34 billion a year ago. Analysts estimated revenues of $11.11 billion for the quarter.
The company completed the wind down of service operations in Iran in the second quarter of 2013. Consequently, the historical results of this business have been reclassified to discontinued operations and all prior periods have been restated.
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by RTT Staff Writer
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