Schlumberger Ltd. Q1 Profit Increases, beats estimates

(RTTNews) - Schlumberger Ltd. (SLB) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $1.07 billion, or $0.74 per share. This compares with $934 million, or $0.65 per share, in last year's first quarter.

Excluding items, Schlumberger Ltd. reported adjusted earnings of $1.08 billion or $0.75 per share for the period.

Analysts on average had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.5% to $8.71 billion from $7.74 billion last year.

Schlumberger Ltd. earnings at a glance (GAAP) :

-Earnings (Q1): $1.07 Bln. vs. $934 Mln. last year. -EPS (Q1): $0.74 vs. $0.65 last year. -Revenue (Q1): $8.71 Bln vs. $7.74 Bln last year.