Schlumberger First-Quarter Profit Rises on Offshore Oil
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Schlumberger Ltd., the world’s largest oilfield-services provider, climbed the most in more than four months after reporting first-quarter profit rose 38 percent as customers increased higher margin deep-water drilling around the globe in response to climbing crude prices.
Net income rose to $1.3 billion, or 97 cents a share, from $944 million, or 69 cents, a year earlier, Houston- and Paris-based Schlumberger said in a statement today. Shares rose 2.7 percent to $71.70 at the close in New York.