Schlumberger revenue rises as offshore oil and gas operations increase, data center demand booms
Special topic: Focus on the second quarter financial report of US stocks in 2026 Second-quarter revenue rose 5% to $8.97 billion SLB (formerly Schlumberger) gate sign in Houston, Texas. The company's second-quarter revenue rose 5% to $8.97 billion, topping Wall Street expectations of $8.67 billion. Oilfield services provider SLB's second-quarter revenue rose 5% to $8.97 billion, with results beating Wall Street expectations. SLB (ticker SLB, +7.68% ) posted revenue growth in the second quarter. The offshore oil and gas exploration business is picking up, coupled with the strong demand from the rapidly expanding data center sector, hedging against the operating disturbances caused by the continued turmoil in the Middle East. The oilfield services company formerly known as Schlumberger disclosed on Friday that it had net income of $786 million, or 52 cents a share, in the quarter, compared with net income of $1.01 billion, or 74 cents a share, in the same period a year earlier. Excluding certain one-time gains and losses, adjusted earnings per share were 55 cents. Analysts surveyed by FactSet had expected adjusted earnings of 51 cents per share, and the actual results beat expectations. Total revenue rose 5% year over year to $8.97 billion, topping Wall Street expectations of $8.67 billion. North American revenue surged nearly 36% to $2.24 billion; offsetting the negative impact of a 2.6% year-on-year decline in overseas revenue ($6.67 billion). CEO Olivier Lepoche said that the increase in offshore oil and gas operations in Latin America, Europe, Africa and Asia has made up for the losses caused by the continued turmoil in the Middle East. "Excluding the Middle East, all segment revenue increased month-on-month, relying on the increase in offshore operations, the recovery of unconventional oil and gas in the United States, and the rising demand for oil and gas production increase and recovery plans." Lepoche said that rising demand and customer expansion have driven SLB's data center solutions business to maintain rapid growth. The annual revenue growth rate of this business is expected to exceed US$1 billion by the end of the year; at the same time, the business boundaries continue to expand, with new service categories such as engineering planning and scheme design.