Schlumberger Limited (NYSE:SLB) delivered solid results in Q3 2024, with revenue hitting $9.16 billionup 10% year-over-yeardriven by international gains and the rising adoption of digital solutions. Net income reached $1.19 billion, marking a 6% increase, while EPS climbed to $0.83, also up 6%. Adjusted EBITDA came in at $2.34 billion, showing a 13% growth from last year, with a healthy 25.6% margin.

• Warning! GuruFocus has detected 2 Warning Sign with SLB.

The performance across SLB's divisions was a mixed bag. Digital & Integration stood out with a 4% sequential revenue boost, powered by higher uptake of cloud and AI platforms. Production Systems surged 31% from last year, thanks largely to the Aker subsea integration. However, Well Construction saw a 3% dip year-on-year, reflecting a slowdown in drilling. Even with a cautious macro backdrop, SLB expanded margins through cost-cutting and long-cycle projects in deepwater and gasareas where the company continues to show strength.

SLB didn't hold back when it came to rewarding shareholders this quarter, returning nearly $900 million through dividends and aggressive stock buybacks. With cash flow from operations hitting $2.45 billion and free cash flow at $1.81 billion, the company seized the opportunity to accelerate its share repurchase program, capitalizing on current price levels. This brings the total cash returned to shareholders for the first nine months of the year to $2.38 billion, and SLB isn't stopping therethey're set to exceed the $3 billion target laid out earlier, reinforcing their commitment to driving shareholder value.

This article first appeared on GuruFocus.