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Schlumberger Quarterly Profit Slides

By  AOG Staff Thursday, 18 April 2019 04:47
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Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.

File image: Schlumberger
File image: Schlumberger

Schlumberger said net income fell to $421 million, or 30 cents per share, in the three months ended March 31, from $525 million, or 38 cents per share, a year earlier.

Revenue rose to $7.88 billion from $7.83 billion.

(Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)

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