Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

SLB N.V., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Services	5,152)	5,327)	5,366)	5,878)	5,841)	5,902)	5,676)	5,823)	5,719)	5,563)	5,334)	5,445)	5,153)	4,732)	4,222)	4,311)	4,020)	3,789)	3,482)	3,720)	3,666)	3,721)	5,426)
Product sales	3,776)	3,219)	3,124)	3,406)	3,318)	3,237)	3,031)	3,167)	2,591)	2,536)	2,402)	2,434)	2,324)	2,041)	1,740)	1,914)	1,827)	1,845)	1,741)	1,812)	1,592)	1,635)	2,029)
Revenue	8,928)	8,546)	8,490)	9,284)	9,159)	9,139)	8,707)	8,990)	8,310)	8,099)	7,736)	7,879)	7,477)	6,773)	5,962)	6,225)	5,847)	5,634)	5,223)	5,532)	5,258)	5,356)	7,455)
Cost of services	(4,075)	(4,227)	(4,256)	(4,444)	(4,465)	(4,523)	(4,415)	(4,454)	(4,360)	(4,288)	(4,129)	(4,151)	(3,975)	(3,720)	(3,387)	(3,541)	(3,334)	(3,223)	(3,031)	(3,438)	(3,127)	(3,383)	(4,727)
Cost of sales	(3,295)	(2,707)	(2,628)	(2,879)	(2,772)	(2,739)	(2,592)	(2,739)	(2,232)	(2,214)	(2,156)	(2,156)	(2,067)	(1,848)	(1,626)	(1,596)	(1,528)	(1,545)	(1,473)	(1,389)	(1,497)	(1,542)	(1,897)
Cost of revenue	(7,370)	(6,934)	(6,884)	(7,323)	(7,237)	(7,262)	(7,007)	(7,193)	(6,592)	(6,502)	(6,285)	(6,307)	(6,042)	(5,568)	(5,013)	(5,137)	(4,862)	(4,768)	(4,504)	(4,827)	(4,624)	(4,925)	(6,624)
Gross margin	1,558)	1,612)	1,606)	1,961)	1,922)	1,877)	1,700)	1,797)	1,718)	1,597)	1,451)	1,572)	1,435)	1,205)	949)	1,088)	985)	866)	719)	705)	634)	431)	831)
Research & engineering	(170)	(180)	(172)	(192)	(187)	(188)	(182)	(188)	(186)	(163)	(174)	(179)	(160)	(154)	(141)	(145)	(140)	(134)	(135)	(128)	(137)	(142)	(173)
General & administrative	(72)	(87)	(96)	(80)	(90)	(94)	(121)	(96)	(81)	(96)	(91)	(99)	(94)	(86)	(97)	(108)	(80)	(70)	(81)	(72)	(85)	(81)	(127)
Restructuring & other	(109)	(135)	(158)	(223)	(65)	(111)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Merger & integration	(143)	(35)	(48)	(63)	(33)	(16)	(11)	(45)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairments & other	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(61)	(350)	(3,724)	(8,523)
Operating income (loss)	1,064)	1,175)	1,132)	1,403)	1,547)	1,468)	1,386)	1,468)	1,451)	1,338)	1,186)	1,294)	1,181)	965)	711)	835)	765)	662)	503)	444)	62)	(3,516)	(7,992)
Interest & other income	78)	252)	78)	115)	96)	85)	84)	95)	73)	82)	92)	174)	75)	311)	50)	57)	56)	16)	19)	173)	22)	33)	39)
Interest expense	(142)	(142)	(147)	(131)	(136)	(132)	(113)	(130)	(129)	(127)	(117)	(121)	(122)	(124)	(123)	(137)	(130)	(136)	(136)	(145)	(138)	(144)	(136)
Income (loss) before taxes	1,000)	1,285)	1,063)	1,387)	1,507)	1,421)	1,357)	1,433)	1,395)	1,293)	1,161)	1,347)	1,134)	1,152)	638)	755)	691)	542)	386)	472)	(54)	(3,627)	(8,089)
Tax (expense) benefit	(226)	(237)	(234)	(269)	(289)	(276)	(259)	(285)	(259)	(246)	(217)	(264)	(215)	(182)	(118)	(144)	(129)	(99)	(74)	(89)	(19)	199)	721)
Net income (loss)	774)	1,048)	829)	1,118)	1,218)	1,145)	1,098)	1,148)	1,136)	1,047)	944)	1,083)	919)	970)	520)	611)	562)	443)	312)	383)	(73)	(3,428)	(7,368)
Net income attributable to noncontrolling interests	(35)	(34)	(32)	(23)	(32)	(33)	(30)	(35)	(13)	(14)	(10)	(18)	(12)	(11)	(10)	(10)	(12)	(12)	(13)	(9)	(9)	(6)	(8)
Net income (loss) attributable to SLB	739)	1,014)	797)	1,095)	1,186)	1,112)	1,068)	1,113)	1,123)	1,033)	934)	1,065)	907)	959)	510)	601)	550)	431)	299)	374)	(82)	(3,434)	(7,376)

The financial data exhibits several notable trends and changes over the observed quarterly periods.

Revenue and Segment Sales: Total revenue shows a general upward trajectory, increasing from 7,455 million US dollars in early 2020 to a peak near 9,284 million by late 2024, although it experiences some fluctuations. Services revenue initially declines sharply in early 2020 but recovers steadily thereafter, reaching a maximum around 5,823 million in late 2021 before stabilizing in subsequent quarters. Product sales maintain a relatively stable pattern with moderate growth, experiencing significant increases starting in late 2022 and peaking in late 2025 at 3,776 million US dollars.
Cost Analysis: Costs of services and sales follow the revenue pattern but with some volatility. The cost of services declines initially, then rises consistently from mid-2021, paralleling the services revenue increase, reaching approximately 7,193 million by late 2023 before slight reduction. Cost of sales rises gradually with product sales revenue, highlighting consistent gross margin management. Overall cost of revenue increases from about 6,624 million in early 2020 to roughly 7,370 million by late 2025, indicating careful control as revenue grows.
Profitability Metrics: Gross margin exhibits a recovery from a low point in mid-2020, improving steadily to a peak above 1,961 million in early 2025. Operating income transitions from significant losses in early 2020 to sustained profits starting late 2020, consistently exceeding 1,000 million US dollars in later periods, reflecting improved operational efficiency. Net income attributable to the company moves from large losses to solid gains, peaking around 1,186 million in late 2024 before showing some decline toward 2025, indicating stabilization of earnings.
Expense Management: Research and engineering expenses remain relatively steady, fluctuating moderately around the 170 to 190 million range, signaling consistent investment in innovation. General and administrative expenses show occasional variation but generally stay within a controlled range of 70 to 120 million. Notably, restructuring and merger-related costs appear sporadically from early 2023, with significant charges impacting profitability temporarily but declining thereafter.
Exceptional Items and Other Income: Impairments incurred early in the timeline substantially affect initial losses, with diminishing charges afterward. Interest income spikes significantly in certain quarters, notably mid-2022, contributing positively to income before taxes. Interest expense remains stable, aiding in predictable financial expense management.
Tax and Net Income Fluctuations: Tax expenses correspond with income improvements, increasing in absolute terms but generally aligning with profitability trends. Net income demonstrates recovery from losses, maintaining positive levels through most quarters after 2020. Income attributable to noncontrolling interests remains minimal but fairly consistent, indicating limited external ownership impact.

In summary, the financial data illustrates a recovery phase from substantial early losses to sustained profitability. Revenue expansion, especially services and product sales, coupled with controlled cost increases and steady expense management, supports improving margins and net income. Occasional restructuring and exceptional charges create short-term volatility but do not detract from the overall positive trend in operating performance and profitability over the time span analyzed.

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SLB N.V. (NYSE:SLB)

Income Statement Quarterly Data

Income Statement
Quarterly Data