Schlumberger Fails to Impress as CEO Sees Mixed Outlook

Schlumberger Ltd.’s 11th consecutive quarter of beating analysts’ earnings estimates failed to impress investors as the largest oilfield servicer said the world’s economic situation will be slow to change.

“The overall global economic outlook continues to be mixed,” Chief Executive Officer Paal Kibsgaard said in a statement yesterday. Kibsgaard sees “a slightly more cautious” short-term outlook for gross domestic product gains as the U.S. recovers from a harsh winter, Europe experiences “anemic” growth, forecasts for Brazil weaken and China’s economy stabilizes.