NEW YORK (TheStreet) -- Schlumberger (SLB) shares are down -2.3% to $112 in after-hours trading today following the release of the company's second quarter earnings results.
The oilfield services company reported a 19% decrease in earnings to $1.8 billion, or $1.37 per diluted share, although that was 2 cents ahead of analysts estimates.
Revenue for the quarter rose 8% to $12.05 billion, $0.6 billion more than analysts had expected.
TheStreet Ratings team rates SCHLUMBERGER LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SCHLUMBERGER LTD (SLB) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."
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