April 20, 2018 / 11:12 AM / a month ago

Schlumberger quarterly profit surges 88 pct

April 20 (Reuters) - The world’s largest oilfield services provider Schlumberger NV reported an 88 percent rise in quarterly profit on Friday as rising crude oil prices encouraged its North American clients to ramp up spending.

Net profit attributable to Schlumberger rose to $525 million, or 38 cents per share, in the first quarter ended March 31, from $279 million, or 20 cents per share, a year earlier.

Revenue rose to $7.83 billion from $6.89 billion. (Reporting by John Benny in Bengaluru; Editing by Sriraj Kalluvila)

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