Schlumberger meets 1Q profit forecasts

Associated Press |

THE HAGUE, Netherlands (AP) _ Schlumberger NV (SLB) on Friday reported first-quarter profit of $279 million.

On a per-share basis, the The Hague, Netherlands-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring costs, were 25 cents per share.

The results met Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was also for earnings of 25 cents per share.

The world's largest oilfield services company posted revenue of $6.89 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $6.98 billion.

Schlumberger shares have declined nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5 percent. The stock has decreased almost 6 percent in the last 12 months.

This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SLB at

Keywords: Schlumberger, Earnings Report

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