On July 24, SLB Ltd rose 3.43% in pre-market trading, trading at $48.84/share. The move was driven by the company's second-quarter earnings release, which delivered a double beat on both revenue and profit.

SLB reported Q2 revenue of $8.972 billion, surpassing the consensus estimate of $8.672 billion, while adjusted EPS came in at $0.55, beating the $0.51 estimate by approximately 7.84%. Notably, this represents a 25.68% year-over-year decline in EPS. The outperformance was primarily attributed to continued momentum in its digital business segment. Management highlighted that its data center solutions business is on track to surpass $1 billion in annualized revenue by year-end and is projected to exceed $2 billion in annualized revenue by the end of 2027. The company also maintained its full-year capital expenditure guidance at approximately $2.5 billion.

However, management noted headwinds in the Middle East, where first-half revenue declined due to reduced activity levels and conflict-related operational disruptions. While some countries saw early signs of recovery in Q2, the timeline for a full rebound remains uncertain.

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