Schlumberger posts 19.8 percent fall in quarterly profit

(Reuters) - 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)

04/18/2019 11:08

News, Photo and Web Search