Schlumberger Q1 revenue up by 14% to $5.96 billion
Schlumberger Limited announced on Friday its revenue in the first quarter of the year saw an annual increase of 14% to come in at $5.96 billion. Its net income rose by 70% year-on-year to $510 million. Meanwhile, the company's diluted earnings per share (EPS) grew by 71% on an annual level to stand at $0.36 per share.
"Our first-quarter results set us firmly on the path to deliver full-year revenue growth in the mid-teens and another year with a significant increase in earnings," Schlumberger Chief Executive Officer (CEO) Olivier Le Peuch while adding that "the quarter also marked the tragic start of the conflict in Ukraine, which is of grave concern."
Following the release of the report, Schlumberger's shares went up by 0.30% in premarket trading.