Schlumberger Ltd. Reports 63% Fall In Q1 Earnings

(RTTNews) - Schlumberger Ltd. (SLB) reported earnings for first quarter that decreased from last year.

The company said its profit came in at $0.50 billion, or $0.40 per share. This was down from $1.36 billion, or $1.06 per share, in last year's first quarter.

Analysts had expected the company to earn $0.39 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 36.4% to $6.52 billion. This was down from $10.25 billion last year.

Schlumberger Ltd. earnings at a glance:

-Earnings (Q1): $0.50 Bln. vs. $1.36 Bln. last year. -Earnings Decline (Y-o-Y): -63.2% -EPS (Q1): $0.40 vs. $1.06 last year. -EPS Decline (Y-o-Y): -62.3% -Analysts Estimate: $0.39 -Revenue (Q1): $6.52 Bln vs. $10.25 Bln last year. -Revenue Change (Y-o-Y): -36.4%