SLB Profits Top Analyst Expectations
January 17, 2025
Copyright Timon/Adobestock
SLB beat analysts' estimates for fourth-quarter profit on Friday as the oilfield services provider benefited from higher demand for its drilling equipment and technology in North America and international markets.
Excluding charges and credits, SLB posted a profit of 92 cents per share for the quarter, compared with the average analyst estimate of 90 cents, according to data compiled by LSEG.
Offshore exploration and drilling in the Middle East, Africa and Asia have boosted demand for oilfield services, with producers seeking to expand their inventories.
SLB's shares rose 3.5% to $42.5 in premarket trading.
(Reuters)
