Schlumberger earnings up 56%
Christopher Martin Bloomberg NewsNEW YORK -- Schlumberger said its third-quarter net income rose 56 percent from the same quarter a year ago as the boom in the business of providing oil drilling equipment and services continued.
Schlumberger, based in New York, said net income was $357 million, or 72 cents a share, up from $229 million, or 47 cents in the year- ago quarter. The company was expected to earn 66 cents a share based on the average estimate of 21 analysts surveyed by IBES International.
"Another strong quarter in the oil field confirms the underlying strength of the industry," said Euan Baird, chairman and chief executive of Schlumberger. Operating revenue rose 21 percent to $2.74 billion, from $2.26 billion in the year ago quarter.
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