Schlumberger Reports Downbeat Q1 Results; Shares Down

Schlumberger Ltd SLB reported 40% rise in its Q1 net income. SLB reported its Q1 earnings at $944 million, or $0.69 per share, up from $672 million, or $0.56 per share, in the year-ago quarter. The company's adjusted profit came in at $0.71 per share. The company's revenue increased to $8.72 billion from $5.6 billion. However, analysts expected profit of $0.76 per share on revenue of $8.83 billion. SLB shares dropped 0.44% to $87.50 in pre-market trading. Read more from Benzinga's Company news.