SLB logged higher revenue in the second quarter, as higher offshore activity and strong demand across its quickly growing data-center business helped to offset continued disruptions across the Middle East.
The oilfield-services company, formerly known as Schlumberger, on Friday posted a profit of $786 million, or 52 cents a share. That's down from a profit of $1.01 billion, or 74 cents a share, a year earlier.
Stripping out certain one-time items, earnings came in at 55 cents a share. Analysts polled by FactSet expected adjusted earnings of 51 cents a share.
Revenue rose 5% to $8.97 billion, ahead of Wall Street models for $8.67 billion.
North America revenue jumped nearly 36%, to $2.24 billion, offsetting international revenue, which slipped 2.6%, to $6.67 billion.
Chief Executive Olivier Le Peuch said offshore activity in Latin America, Europe, Africa and Asia helped offset continued disruptions across the Middle East.
"Excluding the Middle East, revenue grew sequentially across all divisions, supported by higher offshore activity, a rebound in U.S. unconventionals and strong demand for production and recovery solutions," he said.
SLB's data-center-solutions business continued to grow at a quick clip, driven by rising demand and customer expansion, according to Le Peuch. The unit, which is on track to exceed $1 billion in annualized revenue run rate by the end of the year, is also widening its scope, adding offerings such as engineering and design.
Shares climbed 3.9%, to $49.05, in premarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
July 24, 2026 07:37 ET (11:37 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.