Schlumberger Crushes Q4 Estimates, Hikes Dividend

Schlumberger Limited (SLB) reported adjusted fourth quarter earnings of $0.85 per share on $9.07 billion in revenue this morning, easily topping Wall Street’s expectations. The company also raised its dividend by 19%, pushing its quarterly payout up to $0.25 per share.

Analysts were expecting a profit of $0.77 per share and $8.70 billion in sales.

Adjusted net income from continuing operations was $1.16 billion, beating last year’s Q4 figure by 42%, while revenue rose 58% year over year.

Shares of SLB rose to $86.29 (+1.18%) in pre-market trading, where they now carry a 1.16% dividend yield.

The dividend increase announced today was Schlumberger’s first in three years. The ex-dividend date for the company’s first payout under the new rate is February 14.

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