UPDATE: Schlumberger Q1 Profit Falls 3%

Schlumberger

reported a 3% drop in its first-quarter profit. Schlumberger's quarterly net income declined to $1.26 billion, or $0.94 per share, versus $1.3 billion, or $0.97 per share, in the year-ago period. Its revenue rose around 8% to 10.67 billion. Schlumberger shares closed at $71.00 yesterday.