Oilfield services firm SLB jumps on stronger-than-expected Q2 earnings and a 3%-4% sequential revenue growth forecast for Q3.
SLB shares climbed 10.4% Friday, leading gains on the S&P 500 after reporting Q2 adjusted earnings that exceeded Wall Street estimates. The company also guided Q3 revenue to rise 3%-4% quarter-over-quarter, signaling resilience amid regional disruptions.
Analysts had anticipated softer results due to Middle East tensions and project delays. SLB’s performance contrasts with broader sector struggles, where peers face weaker demand and pricing pressures. The stock’s rally marks its strongest single-day gain in six months.
The S&P 500 saw SLB as one of its top two performers, reflecting investor confidence in its operational momentum and growth outlook.