Net profit of Schlumberger declined by almost 20% in the first quarter

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The world's largest oilfield service company Schlumberger reported the results of the first quarter of this year. Its net profit over the earnings period decreased by almost 20% in annual terms to $421 million. The decline is due to weak demand for its equipment and services in the United States. The profit figure, which does not take into account one-off factors, amounted to 30 cents per share, confirming the forecast of analysts. Revenues showed a slight increase, reaching 7 billion 879 million dollars and slightly exceeding the estimate of experts at 7 billion 810 million dollars. Due to the weakening of activity in North America, the company's revenue in this region decreased by 3% compared to the previous quarter. The decrease in revenue from foreign operations was 5%. Schlumberger expects further steady improvement in trends in the oil market this year. Its shares over the past 12 months increased in price by 32.6%.

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