Schlumberger (SLB) breezed past fourth-quarter estimates and boosted its quarterly dividend by 40%.

The New York-based oil driller made $1.13 billion, or 92 cents a share, up from the year-ago $660 million, or 54 cents a share. Revenue surged 8% sequentially and 33% from a year ago to $5.35 billion.

Analysts were looking for an 85-cent profit on sales of $5.16 billion.

"The fourth-quarter results produced new record levels of revenue and net income despite seasonal weather-related weakness in the North Sea, parts of Russia and US Land as well as activity-related weakness in Canada," said CEO Andrew Gould. "WesternGeco achieved further significant progress and strong performances were recorded by Schlumberger Information Solutions, Well Testing and Artificial Lift Technologies. Schlumberger Completions was also a strong contributor to growth and to add further technology to our products and services in this critical area of reservoir production we acquired Reslink, a Norwegian-based supplier of advanced completions solutions."

The company also boosted its dividend by a nickel a share, to 17.5 cents, payable April 6 to holders of record Feb. 21.

Shares rose $1.25 early Friday to $59.15.

More from Stocks

Dow Futures Tank as Trade War Fears Grip Wall Street

Dow Futures Tank as Trade War Fears Grip Wall Street

Why GE's Stock Has Fallen 9% in the Last 30 Days

Why GE's Stock Has Fallen 9% in the Last 30 Days

5 Stock Picks Under $10 for Millennials

5 Stock Picks Under $10 for Millennials

3 Complicated Investing Strategies Millennials Love

3 Complicated Investing Strategies Millennials Love

Tyson Foods CEO: We Aren't Done Making Deals

Tyson Foods CEO: We Aren't Done Making Deals