Revenue was significantly down but the EPS was higher. SLB got less but rewarded the shareholders. Does it make sense? Somebody enlighten me.
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2nd quarter had an impairment over $2.5 bln. There's the reason for difference in EPS.
Interesting that SLB no longer reports pre-tax income by geographic area even though every other OFS company does. What are they hiding and when does the house of cards crumble down?
Earnings can be 'enhanced' in a number of ways. One poster already noted reducing the share count. A company can defer maintenance, reduce research & development, reduce headcount, reduce compensation of remaining employees, more selective work to companies that pay promptly or have better margins (if at all - here looking at PDVSA), renegotiating leases or other recurring fixed costs. SLB has likely been doing many of those and that contributed to the ability to increase profit on lower revenue.
Wall Street Slaps on KP's face after today's earning by dumping SLB's stock. No worry, you s--- KP's butt, KP s---s Wall Streets. Funny, isn't it?
Alot of diiiick sukin went into behind eps and awarding shareholders. Fcuk the employees.
It's called cooking the books. SLB are pros at it.
It just means that the share count went down to jack up EPS even on a lower revenue. Many companies do this financial engineering so that they can say they "beat" the EPS "estimates".
you know that already. You know where the profit and profit margin come from -- on the back of the employees