SLB’s Data Center Revenue Jumps 80% — Can The Business Reach $2 Billion By 2027?

Schlumberger Limited reported second-quarter 2026 revenue of $9 billion, up 3% sequentially as international growth and a North American rebound offset Middle East weakness. Middle East revenue declined 13% sequentially to $1.66 billion because of regional conflict and security disruptions, particularly in Iraq. Management expects activity to recover gradually, although the pace will vary by country and customer. Adjusted EBITDA margin increased 83 basis points sequentially, supported by strong execution in Production Systems and Digital. Production Systems revenue rose 7% sequentially to $3.8 billion, driven by artificial lift, valves, and subsea activity. ChampionX also contributed to growth and margin expansion despite cost inflation. Digital revenue increased 9% sequentially to $697 million, while adjusted EBITDA margin exceeded 34%. Growth was supported by exploration data licenses and transfer fees, particularly in Brazil and Indonesia. Digital annual recurring revenue increased 15% year-over-year.