| Energy continues to be the biggest drag on the overall earnings picture since the past several quarters and this quarter is not going to be an exception. This is especially true as earnings for 11.9% of the S&P 500 energy companies that have reported so far are down 60.9% on revenue decline of 30.3%, as per the Zacks Earnings Trend.
In addition, total earnings for the sector are expected to be down 110.4% from the same period last year on 29.7% lower revenues. Notably, sluggish earnings report from the world's largest oilfield services provider -Schlumberger - last week disappointed investors as the company not only missed our top- and bottom-line estimates but also posted year-over-year declines on both metrics..............................................Full Article: Source
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