Financial Performance Overview

Schlumberger NV, now operating as SLB, disclosed its first-quarter fiscal 2025 results, revealing a 3% year-on-year revenue decline to $8.49 billion, slightly below market expectations.

Earnings and Share Price Impact

The company witnessed a 25% drop in net income to $797 million, with diluted earnings per share (EPS) falling by 22% to $0.58. Following the announcement, SLB's shares experienced a 1.92% decrease in premarket trading, settling at $34.26 each.

CEO's Insight on Quarterly Performance

CEO Olivier Le Peuch attributed the subdued start to the year to a mix of regional challenges and opportunities. "Despite higher activity in the Middle East, North Africa, Argentina, and offshore US, and robust growth in North America's data center and digital sectors, unexpected slowdowns in Mexico, Saudi Arabia, offshore Africa, and a significant decline in Russia impacted our overall performance," Le Peuch explained.