slb

The oilfield services company has reported its results, but the interesting story isn’t oil wells—it’s data centers.
$SLB (formerly Schlumberger) reported its Q3 2026 results on October 23: revenue of $9.45 billion, up 5% quarter over quarter and 6% year over year; adjusted earnings per share of $0.64, up 16% quarter over quarter and down 7% year over year; and free cash flow of $828 million. The board maintained its quarterly dividend at $0.295 per share.
What really stood out was Data Center Solutions: quarterly revenue was $230 million, up 23% quarter over quarter and 76% year over year; revenue for the first nine months totaled $557 million. CEO Olivier Le Peuch was clear about demand for AI infrastructure: customers want modular solutions they can deploy quickly and at scale, and the business has also expanded into Asia.