Schlumberger Quarterly Profit Slides

Thursday, April 18, 2019
File image: Schlumberger

Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.

Schlumberger said net income fell to $421 million, or 30 cents per share, in the three months ended March 31, from $525 million, or 38 cents per share, a year earlier.

Revenue rose to $7.88 billion from $7.83 billion.


(Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)

Categories: Engineering Hardware Technology Finance

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