The world's largest oilfield services company lost 15 cents per share, or $204 million. That's a narrower loss from more than $1 billion in the same quarter a year ago.
Revenue fell 8.2 percent to $7.11 billion.
Still, the results met Wall Street expectations, with the average estimate of 17 analysts surveyed by Zacks Investment Research for earnings of 27 cents per share. Twelve analysts surveyed expected $7.1 billion in revenue.
The company, with bases in Paris, Houston, London and The Hague, Netherlands, is the world's largest oilfield-services provider, helping energy companies explore for and produce oil and gas. The business has sagged with the plunge in oil prices that started in mid-2014.
For the year, the company reported a loss of $1.69 billion, or $1.24 per share, swinging to a loss in the period. Revenue was reported as $27.81 billion.
Schlumberger shares have climbed almost 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1 percent. The stock has increased 39 percent in the last 12 months.