Schlumberger Ltd. Q3 Income Drops 49%

(RTTNews) - Schlumberger Ltd. (SLB) announced earnings for third quarter that decreased compared to the same period last year.

The company said its earnings totaled $0.99 billion, or $0.78 per share. This was down from $1.95 billion, or $1.49 per share, in last year's third quarter.

Analysts had expected the company to earn $0.77 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 33.0% to $8.47 billion. This was down from $12.65 billion last year.

Schlumberger Ltd. earnings at a glance:

-Earnings (Q3): $0.99 Bln. vs. $1.95 Bln. last year. -Earnings Decline (Y-o-Y): -49.2% -EPS (Q3): $0.78 vs. $1.49 last year. -EPS Decline (Y-o-Y): -47.7% -Analysts Estimate: $0.77 -Revenue (Q3): $8.47 Bln vs. $12.65 Bln last year. -Revenue Change (Y-o-Y): -33.0%