Schlumberger investor relations Top oilfield services provider Schlumberger Ltd reported a 64.9% jump in third-quarter profit on Friday as rising oil prices spurred drilling activity and boosted demand for its services.

Net income was $ 907 million, or 63 cents per share, in the three months ended Sept. 30, compared with $ 550 million, or 39 cents per share, a year ago.

Schlumberger Ltd.shares

Schlumberger Ltd.shares of rose 0.9% in premarket trading on Friday after the oil services company reported third-quarter profit and revenue that beat expectations, with growth led by its well construction and production systems businesses as global activity strengthened. Olivier Le Peuch, Chief Executive Officer, said, “The quarter was also supported by the ongoing backlog transformation, strong technology adoption and the growing effects of pricing improvements.” said.

Net income rose to $ 907 million, or 63 cents per share, from $ 550 million, or 39 cents per share, in the period a year ago. Excluding non-recurring items, adjusted earnings per share of 63 cents topped FactSet’s consensus of 55 cents. Revenue rose 27.9% to $7.48 billion, above FactSet’s consensus of $7.11 billion. Well Construction revenue increased 36% to $3.08 billion.

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