Schlumberger
Q1 2022 Earnings Call
Apr 22, 2022, 9:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Schlumberger earnings conference call. [Operator instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to the vice president of investor relations, ND Maduemezia. Please go ahead.
ND Maduemezia -- Vice President of Investor Relations
Thank you, Lea. Good morning, everyone, and welcome to the Schlumberger Limited First Quarter 2022 earnings conference call. Today's call is being hosted from Oslo following the Schlumberger Limited board meeting held earlier this week. Joining us on the call are Olivier Le Peuch, chief executive officer; and Stephane Biguet, chief financial officer.
Before we begin, I would like to remind all participants that some of the statements we're making today are forward-looking. These matters involve risks and uncertainties that could cause our results to differ materially from those projected in these statements. I therefore refer you to our latest 10K filing and our other SEC filings. Our comments today may also include non-GAAP financial measures.
Additional details and reconciliation to the most directly comparable GAAP financial measures can be found in our first quarter press release, which is on our website. With that, I'll turn the call over to Olivier.
Olivier Le Peuch -- Chief Executive Officer
Thank you, ND. Good morning, ladies and gentlemen. Thank you for joining us on the call today. In my remarks, I will cover our first quarter results and achievements, followed by our latest view of the market environment and our outlook for the second quarter and the rest of the year, particularly internationally.
Stephane will then give more detail on our financial results, and we will open the floor for your questions. Considering the global context during the first quarter, I'm very pleased with our start of the year. Sequentially, the quarter broadly reflected typical seasonal patterns, except for additional effects of the Russian ruble devaluation and a more pronounced sequential decline in production systems. year on year, we delivered a strong increase in earnings and revenue growth, along with operating margin expansion.
Our results were particularly strong in well construction and reservoir performance, where we are maximizing our leading market positions, our top-tier technology performance and enhanced operating leverage to full effect, both internationally and North America. All divisions and area grew year on year, resulting in 14% overall growth. This was achieved through double-digit revenue growth internationally and by fully capitalizing on our North America exposure, with 32% revenue growth. Operating margins expanded in both North America and in the international markets, and we started the year with the highest first quarter margin since 2015.