From Newsmax:
Schlumberger Ltd. said Friday its first-quarter earnings tumbled about 30 percent as oil and natural gas companies cut back on exploration and drilling due to lower prices and demand. It also forecast sluggish oil-patch activity for at least the rest of this year.
The world's largest oilfield services company said net income in the January-to-March period fell to $938.5 million, or 78 cents per share, versus $1.34 billion, or $1.09 per share, a year earlier.
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