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Oilfield services company Schlumberger posts US$279m income

Business | Apr 21, 2017 21:38
Schlumberger NV today reported first-quarter profit of US$279 million. 
On a per-share basis, The Hague, Netherlands-based company said it had a profit of 20 cents. Earnings, adjusted for non-recurring costs, were 25 US cents per share. 
The results met Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was also for earnings of 25 US cents per share. 
The world's largest oilfield services company posted revenue of US$6.89 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected US$6.98 billion. 
Schlumberger shares have declined nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5 percent. The stock has decreased almost 6 percent in the last 12 months.-AP
 


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