SLB Earnings Slip In Q1

(RTTNews) - SLB N.V. (SLB), an oilfield services and technology company, on Friday reported its net income declined in the first quarter compared with the previous year due to Middle East disruptions that curtailed activity across key segments, along with margin compression and weaker underlying performance.

First quarter, net income attributable to the company declined to $752 million from $797 million in the previous year.

Earnings per share were $0.50 versus $0.58 last year.

Earnings per share excluding charges & credits declined 33 percent at $0.52 versus $0.72 last year.

Adjusted EBITDA declined to $1.77 billion from $2.02 billion in the previous year.

Revenue increased to $8.72 billion from $8.49 billion in the previous year.

Further, the board has approved a quarterly cash dividend of $0.295 per share on outstanding common stock, payable July 9, to shareholders of record as of June 3.

In the pre-market trading, 4.13% lesser at $52.51 on the New York Stock Exchange.