Schlumberger profit halves as drilling activity weakens

Thu Oct 15, 2015 4:15pm EDT
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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)