National Oilwell profit rises on new equipment demand
(Reuters) - National Oilwell Varco Inc (NOV.N), the largest U.S. oilfield equipment maker, reported a 15 percent rise in quarterly profit as the demand for new offshore drilling equipment rose.
Third-quarter net profit attributable to the company rose to $612 million, or $1.43 per share, from $532 million, or $1.25 per share, a year earlier.
Revenue increased 42 percent to $5.3 billion.
(Reporting by Swetha Gopinath in Bangalore and Braden Reddall in San Francisco; Editing by Sreejiraj Eluvangal)
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