06:40 AM EDT, 04/24/2024 (MT Newswires) -- (Updates with the stock move, margin, and revenue guidance in the last three paragraphs.)

Weatherford International ( WFRD ) reported Q1 net income late Tuesday of $1.50 per diluted share, up from $0.97 a year earlier.

Analysts polled by Capital IQ expected $1.48.

Revenue for the quarter ended March 31 rose to $1.36 billion from $1.19 billion a year earlier. Analysts surveyed by Capital IQ expected $1.32 billion.

Full-year adjusted earnings before interest, tax, depreciation, and amortization margin will likely hit 25% this year versus next, Chief Executive Officer Girish Saligram said in the company's earnings statement. He reaffirmed the company's previous revenue guidance.

In Q4 results Feb. 6, Saligram said he expects full-year 2024 revenue to grow between double digits and low teens year-over-year, and adjusted EBITDA margins will make "meaningful progress towards our goal of 25%."

Shares of the company were up more than 6% in premarket activity on Wednesday.