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Msg  435306 of 451582  at  7/22/2022 9:55:23 AM  by


Schlumberger Beats Earnings Estimates,

Any opinion?
Schlumberger (SLB) beat earnings estimates and increased its full fiscal year outlook with its second-quarter results Friday. The Houston-based multinational's EPS ballooned 66%. The company's stock rose before the market opened Friday.

SLB is the third oil services firm to report Q2 earnings this week. Halliburton (HAL) kicked off results Tuesday, beating earnings estimates. Baker Hughes (BKR) followed Wednesday, missing analysts' forecasts with its second-quarter earnings . The oilfield services giant cited inflation and its suspension of operations in Russia as reasons for its Q2 results. BKR stock plunged Wednesday.

Schlumberger Earnings

Estimates: Analysts projected the company would post EPS of 40 cents and revenue of $6.27 billion in Q2.

Results: Sales increased 20% to $6.8 billion. Schlumberger's EPS increased 66% to 50 cents.

Outlook: SLB updated its forecast for the remainder of 2022. The company expects full-year revenue of at least $27 billion. In Q1, the company increased its revenue by 14% in the first-quarter, to $5.9 billion. Its EPS jumped 62% to 34 cents. SLB had maintained its full-year guidance, expecting year-over-year revenue growth in the midteens and adjusted EBITDA margins at least 200 basis points higher than Q4 2021.


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