By Kimberly Chin

Schlumberger Ltd. (SLB) swung to a profit in the fourth quarter, driven by improved sales from North America.

The oil field-services giant reported net income of $538 million, or 39 cents a share, compared with a loss of $2.26 billion, or a loss of $1.63 a share, a year ago. Excluding one-time items, the company reported a profit of 36 cents a share. Analysts polled by Refinitiv had expected 36 cents a share on a reported and adjusted basis.

Revenue was flat at $8.18 billion from a year ago, compared with analysts' projections of $8.04 billion in revenue,

Production revenue rose 17% to $12.4 billion and drilling revenue rose 10% to $9.3 billion.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

January 18, 2019 07:54 ET (12:54 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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