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Schlumberger Annual And Quarterly Earnings Increase

Jan. 17, 2014 11:18 AM ETSLB
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Seeking Alpha Analyst Since 2013

Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.

Originally published at www.seclive.com

Schlumberger Limited (SLB) announced its fourth quarter and full fiscal year results for 2013, reporting increases in both its quarterly and annual results. The oilfield services company posted quarterly revenues of $11.91B, up from $11.08B in the year-ago quarter while annual revenues increased 8% from $41.73B to $45.27B. Fourth quarter earnings increased 28% from a year ago to $1.79B and $1.35 earnings per share while annual earnings were $6.33B and $4.75 per share. Returning value to shareholders, the company repurchased 11.9 million shares in a $1.07B share repurchase program. Simultaneously the company announced a 28% dividend increase to $0.40 per share for shareholders of record as of February 19, paid on April 11. CEO Paal Kibsgaard commented that the company continues to grow and improve its overall performance and looks forward to continued growth.

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