UPDATE: Seadrill Posts 14% Drop In Q2 Profit, Lifts Dividend
Seadrill Ltd (NYSE: SDRL) reported a 14% drop in its second-quarter earnings.
Seadrill's quarterly profit fell to $526 million, or $1.09 per share, versus $615 million, or $1.29 per share, in the year-ago period.
Its revenue surged 13% to $1.12 billion. However, analysts were expecting earnings of $0.78 per share on revenue of $1.12 billion.
Its operating margin declined to 43% from 43.2%.
Seadrill also lifted its quarterly cash dividend by $0.02 to $0.84 per share.
Seadrill shares gained 1.85% to $41.89 in pre-market trading.
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