SLB reported higher third-quarter revenue as its business in the Middle East began to gradually recover, following a challenging start to the year.
The oilfield services company's rebound in the region marks a shift from earlier in the year, when operations there faced headwinds. The improvement suggests demand conditions are stabilizing in one of the company's most important markets.
The Wall Street Journal's US Business coverage highlights the quarter as a turning point for the company, which had struggled to gain momentum in the first half of the year.
Investors will be watching whether the recovery in the Middle East can be sustained in coming quarters and whether it broadens to other regions.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing