BUZZ - SLB shares rise as third-quarter profit beats expectations

October 23 - ** The share price of oilfield services provider SLB (SLB.N) rose 1.8% in pre-market trading to $50.46

** Thanks to strong oilfield activity in North America, the company's adjusted profit for the third quarter exceeded (link) expectations, and it showed that some parts of the Middle East are gradually recovering following disruptions caused by conflicts

** SLB reported adjusted earnings per share of 64 cents for the third quarter, higher than the analysts' estimate of 62 cents—data compiled by LSEG

** The company's North American revenue for the third quarter increased by more than 24% year-on-year to $2.4 billion

** Revenue from the Middle East and Asia for the third quarter fell by more than 6%, to $2.81 billion

** “Considering the significant increase in activity in Venezuela, combined with our continuously growing momentum in core business, digitalization, and data center solutions, we believe the outlook for 2027 is very promising. As the recovery in Middle East operations continues, there is further room for growth,” said CEO Olivier Le Peuch

** As of the close of the previous trading day, the company's stock price has risen 29.1% so far this year

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