Oilfield company SLB raised its quarterly dividend and accelerated share repurchases on Friday as its fourth-quarter profit beat expectations, while also warning of flat 2025 revenue due to an oil oversupply.

Schlumberger N.V. (NYSE:SLB) shares are trading higher after the company reported better-than-expected fourth-quarter 2024 results. Revenue grew 3% year over year to $9.28 billion, beating the consensus of $9.

Shares of SLB advanced after the oilfield services giant announced a $2.3 billion stock buyback, bumped dividend payouts higher and reported quarterly earnings that topped Wall Street views.

SLB raised its quarterly dividend and accelerated share repurchases on Friday after the oilfield services provider posted better than expected fourth-quarter profit, helped by higher demand for its drilling equipment and technology.

SLB’s digital revenue grew 20% in 2024 as customers continue to adopt the company's digital products, artificial intelligence and cloud computing.

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

The firm raised its quarterly dividend by 3.6%, and said it has initiated an accelerated share repurchase to buy back $2.3 billion of the company's stock. "While upstream investment growth will remain subdued in the short term due to global oversupply,