UPDATE: Schlumberger Posts Rise In Q1 Profit

Schlumberger

reported a 26% gain in its first-quarter earnings. Schlumberger's quarterly profit surged to $1.59 billion, or $1.21 per share, versus $1.26 billion, or $0.94 per share, in the year-ago quarter. Its revenue climbed 6.3% to $11.24 billion. However, analysts were expecting a profit of $1.20 per share on revenue of $11.49 billion. Schlumberger shares closed at $100.94 yesterday.