Uncategorized

Schlumberger Posts a Loss as Slump Weighs on Oil Services

Schlumberger Ltd. reported a fourth-quarter loss as oil’s slump continued to weigh on demand for drilling services.

The world’s largest oilfield service provider posted a net loss of $204 million, or 15 cents a share, after a loss of $1.02 billion, or 81 cents, a year earlier, according to a statement Friday. Excluding certain items, the profit was 27 cents, more than the 26-cent average of 38 analysts’ estimates compiled by Bloomberg. Sales fell 8.2 percent to $7.1 billion.

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