06:29 AM EDT, 04/26/2024 (MT Newswires) -- NOV (NOV) reported late Thursday Q1 profit of $0.30 per share, down from $0.32 per share a year earlier.

Analysts polled by Capital IQ expected $0.27 earnings per share.

Revenue for the quarter ended March 31 was $2.16 billion, up from $1.96 billion a year earlier. Analysts polled by Capital IQ expected $2.11 billion.

For Q2, the company expects revenue growth of 1% to 5%.

For 2024, the company expects revenue growth in the mid-single digit percentage range.

Additionally, the company's board has approved the repurchase of up to $1 billion shares of its common stock over a 36-month period.

The company also expects to pay a 50% higher quarterly dividend of $0.075 per share for the quarter ended June 30, plus a potential supplemental dividend for the same quarter.

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