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The world's largest oilfield service company Schlumberger reported the results of the first quarter of this year. Its net profit over the earnings period decreased by almost 20% in annual terms to $421 million. The decline is due to weak demand for its equipment and services in the United States. The profit figure, which does not take into account one-off factors, amounted to 30 cents per share, confirming the forecast of analysts. Revenues showed a slight increase, reaching 7 billion 879 million dollars and slightly exceeding the estimate of experts at 7 billion 810 million dollars. Due to the weakening of activity in North America, the company's revenue in this region decreased by 3% compared to the previous quarter. The decrease in revenue from foreign operations was 5%. Schlumberger expects further steady improvement in trends in the oil market this year. Its shares over the past 12 months increased in price by 32.6%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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