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


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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