Schlumberger profit rises 20 percent as global drilling booms

Reuters

Schlumberger Ltd , the world's largest oilfield services company, reported a 20 percent rise in quarterly profit as global drilling activity remained buoyant.

Net income rose to $1.71 billion, or $1.29 per share, in the third quarter, from $1.42 billion, or $1.07 per share, a year earlier.

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Revenue rose nearly 11 percent to $11.61 billion.

(Reporting by Swetha Gopinath in Bangalore; Editing by Sriraj Kalluvila)