Schlumberger sinks 6.5% after Q3 earnings

Shares of Schlumberger Limited plunged almost 6.5% on Friday shortly after the company reported underperforming financial results for the third quarter of the year.

In the trimester ending September 30, Schlumberger’s revenue annually plunged 38%, while a net loss of $82 million and loss per share of $0.06 were also registered.

The company’s stocks tumbled 6.49% to sell for $15.36 per share at 10:51 am ET. Its oilfield services business failed to recover from the coronavirus crisis, with its shares losing almost 62% of its pre-pandemic market value.



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