SLB beat Wall Street estimates for third-quarter profit on Friday, as resilient demand across key markets such as North America helped the top US oilfield services firm ride out weakness in the Middle East due to the war in Iran.
In North America, quarterly revenue rose 24% to $2.40 billion, driven by strength in US oil and gas drilling activity.
Revenue from Middle East and Asia dropped to $2.81 billion, from $3 billion a year earlier.
The Middle East is SLB’s biggest market, accounting for 34% of total revenue in 2025.
Total revenue in the quarter came in at $9.45 billion.
The company posted an adjusted profit of 64 cents per share for the three months ended September 30, compared with analysts’ estimate of 62 cents, according to data compiled by LSEG.
(Reporting by Sumit Saha in Bengaluru; Editing by Sriraj Kalluvila)