SLB Faces Revenue Decline in Q1 2025

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

Financial Performance Highlights

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

CEO's Insight on Quarterly Results

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

Market Reaction

Following the announcement, SLB's shares dipped by 1.92% in premarket trading, with shares priced at $34.26 each.