At the helm: Schlumberger boss Andrew Gould
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Schlumberger slumps but beats street
Oilfield services giant Schlumberger booked a drop in first-quarter earnings as the global slump in energy demand forced its customers to reduce activity and seek price reductions.
Net profit fell to $938 million, or 78 cents per share, from $1.3 billion, or $1.06 per share, a year earlier.
Analysts on average had expected earnings per share of 73 cents, according to Reuters Estimates.
Shares of Schlumberger, down 58% from a high of $111.91 last July, are up 10% so far this year.
- Schlumberger's full results statement is available as a PDF in the related files section to the right of this story.