10:21 AM EST, 01/23/2026 (MT Newswires) -- SLB's (SLB) fourth-quarter results came in ahead of Wall Street's estimates, driven by double-digit revenue growth in its digital and production systems divisions, as well as stabilized global upstream activity.

The oilfield services company, formerly known as Schlumberger, on Friday reported adjusted earnings of $0.78 per share for the December quarter, down from $0.92 the year before. The consensus on FactSet was for non-GAAP EPS of $0.74. Revenue increased 5% to $9.75 billion, topping the Street's view for $9.55 billion.

SLB's New York Stock Exchange-listed shares were up 2.2% in Friday trade.

"SLB concluded the year with very strong fourth-quarter results driven by production systems, digital and reservoir performance," Chief Executive Olivier Le Peuch said in a statement. "Fourth-quarter revenue increased sequentially across all four geographies for the first time since the second quarter of 2024, reflecting stabilized global upstream activity.

Production systems revenue jumped 30% to $4.08 billion, while the digital business recorded growth of 17% to $825 million. Revenue in the reservoir performance business declined 3% year over year to $1.75 billion, while well construction saw revenue drop 10% to $2.95 billion.

International revenue edged down to $7.45 billion from $7.48 billion in the prior-year quarter, amid a 4% decline in the Middle East and Asia. North America revenue climbed 26% to $2.21 billion.

Lower commodity prices, geopolitical uncertainty and an "oversupplied" oil market presented a "challenging backdrop for the industry" in 2025, according to Le Peuch. "As we move into 2026, we believe that the headwinds we experienced in key regions in 2025 are behind us," the CEO said.

The company anticipates rig activity in the Middle East to increase versus the current level, while its presence in the region puts it in a "strong position to benefit from this recovery," Le Peuch added.

"As economics remain challenged, production and recovery activity is becoming a strategic priority for our customers in order to unlock incremental barrels at the lowest cost," Le Peuch said. "This is translating into higher demand particularly for intervention services, artificial lift, production chemicals and SLB OneSubsea."

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