SLB Surges on Strong Q2 Results and Growth in Data Center Services
Shares of Schlumberger (NYSE: SLB) rose by over 11% last week following the company's second-quarter results, which showed revenue growth and higher-than-expected profits. Revenue reached $8.97 billion, up 5% year-over-year, driven in part by increased demand for energy security amid ongoing Middle East tensions. CEO Olivier Le Peuch highlighted growing investments from clients to extend asset lifespans and expand production capacity. Schlumberger is also capitalizing on the AI industry with modular infrastructure services, leading to an 80% surge in data center revenue. The company expects this segment to reach a $1 billion annualized run rate by late 2026. Adjusted earnings of $0.55 per share exceeded Wall Street expectations and signaled strong demand for Schlumberger's offerings moving forward, particularly as global energy strategies evolve.
Tickers: $SLB
Topics: AI infrastructure earnings energy