THE HAGUE, Netherlands (AP) — Schlumberger NV (SLB) on Friday reported a loss of $82 million in its third quarter.
On a per-share basis, the The Hague, Netherlands-based company said it had a loss of 6 cents. Earnings, adjusted for non-recurring costs, were 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The world's largest oilfield services company posted revenue of $5.26 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $5.41 billion.
Schlumberger shares have decreased 59% since the beginning of the year, while the Standard & Poor's 500 index has risen almost 8%. The stock has dropped 50% in the last 12 months.