October 18, 2019 / 11:04 AM / a month ago

Schlumberger posts loss on over $12 bln charge

Oilfield services provider Schlumberger NV on Friday reported a quarterly loss, compared with a profit a year earlier, as it recorded a goodwill impairment charge of over $12 billion.

The company reported net loss of $11.38 billion, or $8.22 per share, in the third quarter ended Sept. 30, compared with a net profit of $644 million, or 46 cents per share, a year earlier.

Excluding the charge and other items, the company earned 43 cents per share.

This is the company’s first report under new boss Olivier Le Peuch, who last month vowed to exit unprofitable businesses, restructure some units and focus on returns. (Reporting by Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila)

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