Oilfield Service Firms SLB and Halliburton Report Strong Q2

Top oilfield service firms Schlumberger (SLB) and Halliburton reported increased quarterly profits driven by international demand for drilling equipment and services, particularly in the Middle East and Asia. SLB's net income rose 19% to $1.2 billion, beating estimates, while Halliburton's profits increased by 16.2% to $709 million. Both companies see strong international demand for crude drilling, with SLB expecting momentum in international markets and long-term growth opportunities. Despite Halliburton meeting earnings expectations, its sales were lower than anticipated, especially in North America. SLB's quarterly revenue exceeded forecasts, with a 5% sequential increase and a 13% rise year-over-year, reflecting robust growth and strong operational performance.