Schlumberger Limited announced on Friday that its revenue for the first quarter of the year was $5.2 billion, decreasing 30% on an annual basis. Furthermore, it also showcases a dip of 6% compared to the previous quarter, APA reports citing Teletrader.
The company's net income decreased by 20% compared to the previous quarter going from $374 million to $299 million, while its diluted earnings per share (EPS) dropped 22% over the past quarter to $0.21.
Schlumberger Chief Executive Office Olivier Le Peuch commented on the results saying: "We started the year with conviction in our strategic direction and our resulting outlook for 2021. The combination of the promising first-quarter results and an increasingly constructive macroeconomic view are strengthening this conviction."
Schlumberger shares were up 1.39% in premarket trade following the release of quarterly earnings, despite lower revenue reports.
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