SLB's Fiscal 2025 First Quarter Financial Overview

Schlumberger NV, now operating under the name SLB, disclosed its first-quarter fiscal 2025 results, revealing a 3% year-on-year revenue decline to $8.49 billion. This figure slightly fell short of market expectations.

Net Income and Earnings Per Share Decline

The company experienced a significant 25% drop in net income compared to the same quarter in 2024, totaling $797 million. Additionally, diluted earnings per share (EPS) saw a 22% decrease year-over-year, settling at $0.58.

CEO's Insight on Quarterly Performance

"The year began on a quiet note with a 3% revenue decrease. While we saw increased activity in regions like the Middle East, North Africa, Argentina, and the US offshore, alongside robust growth in our North American data center infrastructure solutions and digital sectors, these gains were overshadowed by unexpected downturns in Mexico, a sluggish start in Saudi Arabia and offshore Africa, and a sharp decline in Russia," explained CEO Olivier Le Peuch.

Market Reaction

Following the announcement, SLB's shares dipped by 1.92% in premarket trading, reaching $34.26 per share at 6:54 am ET.