Schlumberger reports second-quarter financial results

Oilfield services provider Schlumberger has reported second-quarter 2011 revenue of $9.6bn (£5.9bn), up from $8.7bn in the first quarter of 2011 and $5.9bn in the second quarter of 2010.

Income from continuing operations attributable to Schlumberger, excluding charges, was $1.18bn — an increase of 22 per cent sequentially and 45 per cent year over year.

Excluding charges, diluted earnings per share from continuing operations was $0.87, versus $0.71 in the previous quarter and $0.68 in the second quarter of 2010.

Schlumberger recorded charges of $0.05 per share in the second quarter of 2011 and $0.02 per share in the first quarter of 2011.