Schlumberger Limited: The New York firm’s 1989...
From Times Staff and Wire Reports
Schlumberger Limited: The New York firm’s 1989 earnings dropped 7% from a year earlier to $441 million. Revenue totaled $4.7 billion, down 5%. The oil drilling and oil field service company attributed results to the previous year’s $1.2-billion stock buyback, which reduced interest income in 1989 by $63 million. However, higher oil prices in late 1989 helped its oil field businesses recover from a slump in 1988.
