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SLB Stock Jumps on Earnings, Dividend Hike and Buyback News

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  SLB stock is soaring Friday after the energy firm reported strong fourth-quarter earnings and unveiled several shareholder-friendly initiatives.

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SLB, formerly known as Schlumberger, experienced a significant stock price increase following the announcement of its first-quarter earnings, which exceeded expectations. The company reported adjusted earnings of 63 cents per share with revenues reaching $7.7 billion, surpassing the consensus estimates of 61 cents per share on $7.4 billion in sales. This performance was driven by robust demand in international markets, particularly in the Middle East and offshore regions, despite challenges in North America. Additionally, SLB announced a 10% hike in its quarterly dividend to 25 cents per share and a new $3 billion stock repurchase program, signaling strong confidence in its future cash flows and commitment to shareholder returns. These positive developments led to a 4.5% surge in SLB's stock price in premarket trading.

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