Schlumberger Ltd. Q2 Profit Increases, Beats Estimates

(RTTNews) - Schlumberger Ltd. (SLB) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.11 billion, or $0.77 per share. This compares with $1.03 billion, or $0.72 per share, in last year's second quarter.

Excluding items, Schlumberger Ltd. reported adjusted earnings of $1.22 billion or $0.85 per share for the period.

Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.8% to $9.14 billion from $8.10 billion last year.

Schlumberger Ltd. earnings at a glance (GAAP) :

-Earnings (Q2): $1.11 Bln. vs. $1.03 Bln. last year. -EPS (Q2): $0.77 vs. $0.72 last year. -Revenue (Q2): $9.14 Bln vs. $8.10 Bln last year.