UPDATE: Schlumberger Q3 Profit Surges 20%

Schlumberger

reported a 20% rise in its third-quarter profit. Schlumberger's quarterly profit surged to $1.72 billion, or $1.29 per share, from $1.42 billion, or $1.07 per share, in the year-ago period. Its revenue rose 11% to $11.61 billion. However, analysts were expecting a profit of $1.24 per share on revenue of $11.58 billion. Schlumberger's revenue from the Middle East and Asia rose 25%, and surged 4% in Latin America. Schlumberger shares closed at $91.43 yesterday.