From The Motley Fool · Eric Volkman · · 40s
Weatherford Stock Surges on Earnings Beat
Weatherford International stock jumped 8% after beating earnings expectations.
In brief
Weatherford International stock jumped 8% after beating earnings expectations. Weatherford International's stock rose 8% following a quarterly earnings beat on revenue and net income. Originally reported by The Motley Fool.
Weatherford Earnings Beat
Weatherford International delivered quarterly earnings after market close on Tuesday, sending shares up 8% the next day.
Revenue and Net Income Beat
The company beat revenue expectations by $1.14 billion and net income by $1.66 per share.
CEO's Statement
CEO Girish Saligram credited the company's diversified portfolio and cost management for strong results despite Middle East disruptions.
“Even as conflict-related operational disruptions in the Middle East weighed on activity levels, the strength of our diversified portfolio, disciplined cost management, and outstanding execution across the organization drove margin expansion and strong cash generation.”
The headline
Weatherford International's stock rose 8% following a quarterly earnings beat on revenue and net income.
