UPDATE 1-SLB's quarterly profit beats on international business strength
(Adds background and shares in paragraphs 3-4)
Jan 17 (Reuters) - 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.
(Reporting by Seher Dareen in Bengaluru; Editing by Shounak Dasgupta)
((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
No relevant data is available