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.

Net Income and EPS Decline

The company experienced a significant 25% drop in net income to $797 million, with diluted earnings per share (EPS) also falling by 22% to $0.58 compared to the same period last year.

CEO's Insight on Performance

CEO Olivier Le Peuch commented on the results, stating, "The year started on a subdued note with a 3% revenue decline. While we saw growth in the Middle East, North Africa, Argentina, and offshore US, alongside strong performance in our North American data center and digital businesses, these gains were offset by unexpected slowdowns in Mexico, Saudi Arabia, offshore Africa, and a steep decline in Russia.

Market Reaction

Following the announcement, SLB's shares dipped by 1.92% in premarket trading, reaching $34.26 per share.