Schlumberger Takes $3.7 Billion Charge As It Downsizes

Oilfield services company Schlumberger (NYSE: SLB) reported today that its second quarter revenue dropped 35% compared to the year ago period as oil prices remain depressed and production and drilling activity have pulled back. North American revenue was down 58% compared to the second quarter of 2019, and down 48% compared to the first quarter of 2020. 

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Source Fool.com