Schlumberger Limited (SLB) Q4 Profit Plunges 82%, Company To Slash 9K Jobs Due To Tumbling Oil Prices
Shares of Schlumberger Limited (NYSE:SLB), the world's largest oilfield-services company, traded flat in extended-hours trading Thursday after the oil-related equipment-maker posted quarterly earnings that plunged 82 percent from a year earlier, taking a hit as global oil prices have plunged more than 40 percent since June. The company announced plans to slash 9,000 jobs, or just over 7 percent of its
Following the report, shares of the Netherlands-based company edged up 0.48 percent to $77 in after-hours trading after the company beat earnings expectations by 5 cents and missed revenue expectations.
Schlumberger’s fourth-quarter net income plunged 82 percent to $302 million, or