Schlumberger Q3 earnings beat estimates

Washington

SCHLUMBERGER'S earnings beat expectations after the world's largest oilfield services provider cashed in on an early US recovery as it waits for the rest of the world to catch up.

Excluding one-time items, the Houston- and Paris-based company reported profit of 25 US cents for the third quarter, beating the 22-cent average of 39 analysts' estimates compiled by Bloomberg. Aside from the challenges experienced by its newly acquired Cameron equipment-manufacturing unit, Schlumberger said on Thursday that North America onshore sales climbed 14 per cent sequentially.