Shares of Schlumberger (NYSE:SLB) gained more than 7% in pre-market trading after the company reported upbeat Q1 earnings.
Earnings per share decreased 16.67% year over year to $0.25, which beat the estimate of $0.24.
Revenue of $7,455,000,000 lower by 5.38% year over year, which missed the estimate of $7,520,000,000.
Schlumberger hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
How To Listen To The Conference Call
Date: Apr 17, 2020
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Recent Stock Performance
52-week high: $48.88
52-week low: $11.87
Price action over last quarter: down 59.81%
Schlumberger is the world's largest supplier of products and services to the oil and gas industry. The company operates its business via multiple groups: Reservoir Characterization, Drilling, Production, and Cameron. The firm is investing more than any other services firm to make its offerings more bundled, which it believes is likely to be one of the key industry trends during the next 10 years. Its efforts on this front are most visible via its Schlumberger Production Management (SPM) business, which now accounts for 10% of its revenue.
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