Energy services provider Weatherford International plc. (WFRD) on Wednesday announced a 9 percent increase in second-quarter profit, despite a 14 percent decline in revenue, compared to the prior year.
Net income attributable to Weatherford in the second quarter was $136 million, higher than $125 million in the prior year.
Diluted income per share increased to $1.87, from $1.66 in the previous year.
Total revenues for the quarter declined to $1.204 billion, from $1.405 billion in the last year.
Operating income in the second quarter was $237 million, down from $264 million in the prior year.
The board approved a cash dividend of $0.25 per share, payable to shareholders on record August 6, payable on September 4, 2025.
On Tuesday, the stock of Weatherford closed 4.27% or $2.28 higher at $55.73 In pre-market trade, shares of Weatherford are trading 0.79% or 0.44 points higher at $56.17
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