Schlumberger posted a net loss of around $10 billion for the full year of 2019, but saw its revenue slightly increase for both the full year and during the fourth quarter of 2019, according to a financial results statement released by the company on Friday.
The world's largest oilfield services company recorded a net loss of $10.14 billion in the January-December period of last year, against a net income of $2.14 billion during the same period of 2018.
Net income during the fourth quarter of 2019 came in at $333 million, marking a 38% decrease from the $538 million that was recorded in the final quarter of 2018.
Revenue, on the other hand, showed increases for both the final quarter of 2019 and the full year.
The company saw its revenue increase by 0.61% to $8.23 billion in the October-December period of last year from $8.18 billion during the same period a year ago.
For the full year of 2019, revenue totaled $32.92 billion, a 0.33% increase from 2018 when it amounted to $32.81 billion.
"Overall performance was positive -- particularly in the international markets -- and we generated $2.7 billion in free cash flow," Schlumberger CEO Olivier Le Peuch said in the statement.