Why Schlumberger Stock Slumped on Friday

Core Insights - Schlumberger reported a disappointing first quarter, with a nearly 2% decline in stock price despite a commitment to return billions to shareholders [1] Financial Performance - Revenue decreased by 3% year-over-year to $8.49 billion, while adjusted net income fell by 9% to $988 million, equating to $0.72 per share [2] - Both revenue and adjusted net income fell short of analyst expectations, which were $8.64 billion for revenue and $0.74 per share for adjusted net income [3] Market Dynamics - The company experienced mixed performance across regions, with growth in North America offset by declines in Mexico, Saudi Arabia, offshore Africa, and Russia [3] - North American revenue showed an encouraging increase of 8% [4] Shareholder Returns - Schlumberger's board approved a quarterly dividend of just under $0.29 per share, maintaining the previous payout level [5] - The company plans to allocate over 50% of its free cash flow to dividends and share buybacks, with a commitment of at least $4 billion for these activities in 2025 [5]