Schlumberger Limited (NYSE: SLB) provided its earnings results for the quarter ended March 31, 2020 today.
Schlumberger slipped to a loss in the first quarter of 2020 from a profit last year due to a charge related to the impairment of goodwill, intangible assets, and other long-lived assets. This charge was driven by the significant decline in market valuations during March 2020.
The top-line dropped by 5% as the unprecedented global health and economic crisis sparked by the COVID-19 pandemic increasingly impacted industry activity during the quarter. The customer spending and drilling activity in North America declined as oil prices slipped early in the quarter before falling abruptly in March.
Past Performance
Most Popular
Earnings calendar for the week of August 2
Labor market conditions improved once again and jobless claims dropped to about 400,000 after rising last week, as economic activity picked up. Stocks rallied in the action-packed week and benchmark
IPO News: Here’s everything you need to know about Healthcare Royalty’s upcoming IPO
In the first half of 2021, a record number of private companies entered stock markets in the US, marking a multifold increase from the same period of 2021. The IPO
ExxonMobil (XOM) Earnings: Q2 numbers top expectations
Energy giant ExxonMobil Corporation (NYSE: XOM) reported a profit for the second quarter of 2021, compared to a loss last year, even as operating conditions continued to improve. The results
