Schlumberger Reports Lower Earnings; Beats Estimates (SLB)

Oilfield services company, Schlumberger Limited. (SLB) reported a decline in earnings for its first quarter, but beat analysts estimates on Friday.

The Houston, TX based company reported first quarter net income of $1.26 billion, or 94 cents per share, down -3% from $1.3 billion, or 97 cents per share last year. Excluding special items, earnings for the quarter were $1.35 billion, or $1.01 per share, a 4% rise from last year. Analysts expected to see 99 cents per share.

Revenue for the quarter rose 7% to $10.67 billion, from $9.92 billion last year. Analysts expected to see revenue of $10.74 billion.

The company saw a -4% in revenue in North America. Although revenue was strong in Canada, results from the U.S and the U.S Gulf of Mexico showed weakness. International revenue grew by 13% primarily due to a 21% in revenue from the Middle East and Asia regions, an 11% increase in Europe, and an 8% upside in Latin America.

Schlumberger shares were up $1.60, or 2.25% during premarket trading Friday. The stock has increased 4% in the past year.

The Bottom Line
Shares of Schlumberger Limited. (SLB) have a 1.76% yield, based on Thursday’s closing price of $71.00

Schlumberger Limited. (SLB) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here