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Schlumberger Reports Growth in International Markets

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Schlumberger, the leading oil-field services company, has announced an increase in both revenue and income, largely due to significant growth in international markets.

For the second quarter ended June 30, the company reported net income of $1.03 billion, or 72 cents a share, compared to $970 million, or 67 cents a share, in the same period last year. Adjusted earnings were 72 cents a share, slightly below analysts’ expectations of 79 cents a share.

Revenue for the quarter rose to $8.1 billion from $7.7 billion in the previous year. While analysts had anticipated revenue of $8.4 billion, the company’s performance remained strong.

CEO Olivier Le Peuch expressed enthusiasm about the future prospects of the business. He stated, “As the upcycle continues to unfold, we are excited about the opportunities for our business, with international – and offshore-led growth fueling strong pretax segment operating margin expansion and cash flows as highlighted in this quarter’s results.”

Schlumberger’s international revenue, which accounts for nearly 80% of their global revenue, experienced impressive growth of 21% compared to the previous year. In contrast, their North American sales increased by 14%.

These results reflect the positive trend that Schlumberger is currently enjoying in international markets. With a strong foothold in these regions, the company is well-positioned for further success and continued growth.

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