Schlumberger (NYSE: SLB) swung to a loss on a GAAP basis in the second quarter of 2020, hurt by the $3.7 billion of pretax restructuring and asset impairment charges. On an adjusted basis, the company reported a profit of 5 cents per share. Revenue declined 35% year-over-year to $5.36 billion.
SLB stock was down about 2% in the pre-marketing trading session.
“The conditions are set in the third quarter for a modest frac completion activity increase in North America, though from a very low base. Internationally, markets may continue to be disrupted by the pandemic and will continue to adjust to budget levels set during the second quarter, but this would be mostly offset by the seasonal return of activity in the Northern Hemisphere and the rebound of Latin America from its second-quarter weakness,” said CEO Olivier Le Peuch.
Starbucks (NASDAQ: SBUX) reported fourth-quarter 2020 financial results after the closing bell on Thursday. The coffee chain reported an 8% decline in Q4 revenues to $6.20 billion, which was better
Facebook (NASDAQ: FB) reported third-quarter 2020 financial results after the closing bell on Thursday. The social media giant reported a 22% spike in Q3 revenue to $21.47 billion, which was
Amazon.com, Inc. (NASDAQ: AMZN) reported third quarter 2020 earnings results today. Net sales increased 37% year-over-year to $96.1 billion. Net income increased to $6.3 billion, or $12.37 per share, from