Schlumberger Shares Higher Following Q4 Print, Share Buy Back Announcement - Schlumberger (NYSE:SLB)

Shares of Schlumberger Limited.

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(NYSE: SLB) were trading higher by more than 2 percent early Friday morning after the company reported its

fourth quarter results after Thursday's market close.Schlumberger reported that it earned $0.65 per share on revenue of $7.70 billion. Wall Street analysts were expecting the company to earn $0.63 per share on revenue of $7.80 billion.Schlumberger noted that revenue for the full fiscal year fell 27 percent from a year ago to $35.48 billion while diluted earnings per share for the full year also declined 39 percent from a year ago to $3.37."The strength of these results demonstrates the resiliency of our business portfolio in the face of the activity, pricing and foreign currency challenges of 2015. Our performance was driven by excellence in execution, prompt and proactive cost and resource management, and the growing impact of our transformation program.Finally, Schlumberger's Board of Directors approved a new share repurchase program of $10 billion.