Earnings In Line: World’s No. 1 oilfield-services company Schlumberger Limited (SLB Quick QuoteSLB - Free Report) reported first quarter income per share from continuing operation (adjusted for charges and credits) of 38 cents, in line with the Zacks Consensus Estimate.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last seven days.

Nonetheless, Schlumberger have an impressive earnings surprise history. Before posting in line Q1 earnings, the company delivered positive surprises in two of the prior four quarters. Overall, the company has a positive earnings surprise of 6.4% in the trailing four quarters.

Revenues: Schlumberger posted revenues of $7,829 million, failing to beat the Zacks Consensus Estimate of $7,852 million. However, it compared favorably with the year-ago number of $6,894 million.  

Key Stats: Pre-tax operating income from Reservoir Characterization segment was $307 million, up 9% year over year. Moreover, Drilling Group contributed income of $293 million, surged 28% year over year. Also, income from Production Group jumped 96% to $216 million.  

Zacks Rank: Currently, Schlumberger carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check back later for our full write up on this Schlumberger earnings report later!

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