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Schlumberger: 1Q Earnings Snapshot

Schlumberger: 1Q Earnings Snapshot

Associated Press

THE HAGUE, Netherlands (AP) _ Schlumberger NV (SLB) on Thursday reported first-quarter profit of $421 million.

On a per-share basis, the The Hague, Netherlands-based company said it had profit of 30 cents.

The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was also for earnings of 30 cents per share.

The world's largest oilfield services company posted revenue of $7.88 billion in the period, which beat Street forecasts. Ten analysts surveyed by Zacks expected $7.84 billion.

Schlumberger shares have risen 31 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 16 percent. The stock has declined 31 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLB at https://www.zacks.com/ap/SLB