09:23 AM EDT, 07/19/2024 (MT Newswires) -- Schlumberger ( SLB ) on Friday reported stronger-than-expected results for the second quarter, aided by double-digit revenue growth in key international markets.

The oilfield services company's adjusted earnings came in at $0.85 a share for the June quarter, up from $0.72 a year earlier and ahead of the Capital IQ-polled consensus of $0.83. Revenue climbed 13% year over year to $9.14 billion, topping the Street's view for $9.09 billion.

"We achieved solid second-quarter results, with broad-based international revenue growth and margin expansion across all divisions," Chief Executive Olivier Le Peuch said in a statement. "Our core business continued to build on its positive momentum and our digital business accelerated, resulting in our highest quarterly international revenue since 2014."

International revenue advanced 18% to $7.45 billion, led by a 24% jump in Middle East and Asia and 20% growth in Europe and Africa. Revenue in North America declined to $1.64 billion from $1.75 billion in the prior-year quarter, impacted by lower drilling in US land and a decline in sales of production systems in the Gulf of Mexico, according to the company.

Production systems revenue surged 31% to $3.03 billion, while well construction operations ticked up 1% to $3.41 billion. The reservoir performance division grew 11% to $1.82 billion, aided by increased stimulation and intervention activity, Schlumberger ( SLB ) said.

Digital and integration sales rose to $1.05 billion from $947 million last year.

"Looking ahead to the second half of the year, we expect ongoing momentum in the international markets, strong digital sales, and our cost efficiency programs will enable us to expand margins and deliver our ambition to grow full-year adjusted (earnings before interest, taxes, depreciation and amortization) in the mid-teens," according to Le Peuch. "Beyond 2024, the fundamentals of this cycle remain in place, and there is a long tailwind of growth opportunities."

Price: 49.70, Change: +0.98, Percent Change: +2.01