National Oilwell Varco's profit beats estimates

Fri Oct 25, 2013 7:09am EDT

Oct 25 (Reuters) - National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, posted a higher-than-expected quarterly profit as revenue from its rig technology business rose 12 percent.

Third-quarter net income rose to $636 million, or $1.49 per share, from $612 million, or $1.43 per share, a year earlier.

The adjusted profit of $1.34 per share was slightly above the average analyst estimate of $1.32 per share, according to Thomson Reuters I/B/E/S.

Revenue rose 2 percent to $5.69 billion.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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