By Dean Seal


Schlumberger recorded flat earnings but higher revenue in the fourth quarter with gains across most of the regions in which it operates.

The oilfield services company posted a profit of $1.1 billion, or 77 cents a share, about flat with $1.11 billion, or 77 cents a share, in the same period a year ago.

Stripping out one-time items, adjusted earnings were 92 cents a share. Analysts surveyed by FactSet had been expecting 90 cents a share.

Revenue rose 3% to $9.28 billion, clearing analyst targets for $9.18 billion, according to FactSet.

The top-line gain was driven by digital sales in North America and higher activity in the Middle East, Europe and North America, Chief Executive Olivier Le Peuch said.

International revenue was up 3% overall at $7.48 billion, with gains in all regions except Latin America. North American revenue was up 7% at $1.75 billion.

Schlumberger also recorded higher costs in the fourth quarter, including $223 million in restructuring charges that weighed on the bottom line.


Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

01-17-25 0724ET