Schlumberger profit halves as drilling activity weakens
Oct 15 (Reuters) - Schlumberger Ltd, the world's No. 1 oilfield services provider, reported a near 50 percent drop in quarterly profit, due to continued declines in drilling and completion activity.
Net income attributable to the company fell to $989 million, or 78 cents per share, in the third quarter ended Sept. 30, from $1.95 billion, or $1.49 per share, a year earlier.
Total revenue fell 33 percent to $8.47 billion. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Savio D'Souza)
© Thomson Reuters 2016 All rights reserved.