SLB (SLB) shares slide despite earnings, revenue beat
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Oilfield services giant SLB beats first-quarter profit estimates
April 21, 2023 6:56 AM EDTBy Arunima Kumar and Liz Hampton
(Reuters) -Top oilfield firm SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated crude prices and tight supplies increased demand for its services and equipment.
Global oil prices averaged $81.24 a barrel in the January-March quarter, down nearly 20% from a year earlier but still well above a level where oil and gas producers can drill profitably.
Brent futures were trading around $81.50 a barrel on Friday, up half a percent.
A recent decision by OPEC+ producer countries to support commodity... More
Schlumberger Ltd. (SLB) Tops Q1 EPS by 3c
April 21, 2023 6:51 AM EDTSchlumberger Ltd. (NYSE: SLB) reported Q1 EPS of $0.63, $0.03 better than the analyst estimate of $0.60. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.45 billion.
Adjusted EBITDA of $1.8 billion increased 43% year on yearCash flow from operations was $330... More