Wed, Jul 24, 3:53 PM (45 days ago)
Schlumberger Limited's Q2 2024 financial report highlights a 13% year-on-year revenue increase to $17.8 billion, driven by strong international growth, particularly in the Middle East & Asia, and the acquisition of Aker Solutions' subsea business. Key segments showed robust performance: Digital & Integration revenue rose 10% sequentially due to higher digital sales, while Reservoir Performance and Well Construction grew by 5% and 1% respectively. Production Systems revenue surged 7%, bolstered by international markets. The company reported net income of $1.1 billion for Q2, up from $1.0 billion in Q2 2023. Cash flow from operations was $1.8 billion, with capital investments totaling $1.2 billion. Schlumberger also announced a $500 million increase in its 2024 shareholder returns target to $3 billion. Looking ahead, the company expects sustained international momentum, digital sales growth, and further margin expansion.