SLB Ltd shares surged 6.04% in pre-market trading on Friday, following the oilfield services giant’s second-quarter results that comfortably topped Wall Street expectations on both earnings and revenue.
The company reported adjusted earnings of 55 cents per share, down from 74 cents a year ago but exceeding the analyst consensus of 51 cents. Revenue rose 5% to $8.97 billion, beating the $8.67 billion estimate. The outperformance was driven by a 36% jump in North America revenue to $2.24 billion, along with higher offshore activity in Latin America, Europe, Africa, and Asia, which helped offset a 14% decline in Middle East and Asia revenue amid ongoing regional conflict disruptions.
CEO Olivier Le Peuch highlighted that growth is broadening across geographies outside the Middle East, with the data center solutions business on track to exceed $1 billion in annualized revenue run rate by year-end. The Production Systems and Digital divisions also delivered strong sequential growth, further bolstering investor confidence in the company’s outlook.