THE HAGUE, Netherlands (AP) _ Schlumberger NV (SLB) on Friday reported first-quarter net income of $299 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the The Hague, Netherlands-based company said it had profit of 21 cents.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The world’s largest oilfield services company posted revenue of $5.22 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $5.1 billion.
Schlumberger shares have climbed 16% since the beginning of the year, while the S&P’s 500 index has increased 10%. The stock has increased 65% in the last 12 months.
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