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.

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

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 jumps 6% as Q4 earnings, revenue beat estimates. AI-powered digital services drive growth; $2.3B share repurchase and dividend hike excite investors.

Shares of semiconductor giant Broadcom (NASDAQ: AVGO) were up Friday, gaining 2.7% as of noon ET, but were up as much as 3.6% earlier in the day. The rise comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were up 1% and 1.5%, respectively. Broadcom received a price target boost Friday from an analyst at Barclays.

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

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.

SLB stock rose in premarket trading Friday after the energy technology provider reported fourth-quarter revenue and earnings that beat Wall Street’s expectations. SLB reported revenue of $9.28 billion and adjusted earnings of 92 cents a share for the quarter ended Dec.