October 19, 2012 at 13:14 PM EDT
Schlumberger Q3 Profit Tops, Baker Hughes Misses
Schlumberger's (SLB) third-quarter earnings beat analyst targets as global oil and gas drilling activities continued at a fast clip. But rival Baker Hughes' (BHI) shares fell hard after it missed on earnings as U.S. natural gas drilling activity slowed. Schlumberger, the world's largest oilfield services company, said Q3 earnings per share rose 10% to $1.08, 2 cents above estimates. Revenue climbed 3.7% to $10.61 billion, a bit lighter than
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