Schlumberger NV (SLB) announced on Friday that its revenue for the fourth quarter of 2023 grew by 14% on a yearly basis to $9 billion. Net income was up by 4% annually, reaching $1.1 billion, with the diluted earnings per share (EPS) adding 4% to stand at $0.77. The company approved a 10% increase in SLB’s quarterly cash dividend from $0.25 per share to $0.275 per share payable from April 4. In the full year, SLB saw an 18% increase in revenue year-on-year, which came to $33.1 billion, with a net income jumping 37% to $4.3 billion, and EPS up 37% to $2.98.
"We have concluded a remarkable year marked by widespread revenue growth, margin expansion, and exceptional free cash flow," CEO Olivier Le Peuch said. "Our performance and returns-focused strategy, combined with our differentiated market positioning and digital capabilities, will drive profitable growth and further margin expansion, setting a strong foundation for long-term outperformance."
SLB's shares jumped 2.35% in the premarket trade after the earnings report.
