SLB Q3 results

SLB reported a third-quarter profit of $0.89 per share, surpassing analysts' expectations of $0.88, driven by strong demand for its equipment and technology, especially in international markets. Despite a year-on-year revenue increase of 10% to $9.16 billion, this figure fell short of estimates, reflecting cautious spending by international producers amid lower oil prices. CEO Olivier Le Peuch highlighted the company's focus on digital solutions and cost optimization, which contributed positively to their performance, even as short-cycle activity growth faced headwinds. International revenue rose 12%, bolstered by sales in the Middle East and North Africa, while North America saw a 3% increase driven by Gulf of Mexico activity. SLB anticipates exceeding its $3 billion return to shareholders commitment for the year, having returned nearly $900 million to shareholders in the third quarter alone. Overall, the company remains optimistic about sustained investment levels despite recent spending moderation due to economic conditions.