Schlumberger beat earnings expectations, gave ‘very compelling’ outlook and raised dividend, stock rises

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Shares of Schlumberger Ltd. edged up 0.2% in premarket trading Friday, even after the oil services company reported fourth-quarter profit and revenue that...

Shares of Schlumberger Ltd. SLB edged up 0.2% in premarket trading Friday, even after the oil services company reported fourth-quarter profit and revenue that beat expectations and increased its quarterly dividend by 43%. Net income rose to $1.07 billion, or 74 cents a share, from $601 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 71 cents topped the FactSet consensus of 68 cents. Revenue grew 26.6% to $7.

07 billion, or 74 cents a share, from $601 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 71 cents topped the FactSet consensus of 68 cents. Revenue grew 26.6% to $7.88 billion, above the FactSet consensus of $7.81 billion, with growth seen in all business divisions.

 

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