* 3rd-quarter adjusted EPS $0.81 vs est $0.78
* Middle East, Asia Pacific revenue up 10 pct
* Total revenue rises 8 pct
Oct 18 Baker Hughes Inc, the world's
third-largest oilfield services company, reported a
better-than-expected quarterly profit, driven by strong drilling
activity in the Middle East and Asia Pacific.
A seasonal recovery in Canada helped. Drilling activity in
Canada usually picks up in the summer after the ground dries.
Total revenue rose about 8 percent to $5.79 billion, with
revenue from the Middle East and Asia Pacific region increasing
by about 10 percent.
The Houston-based company has ramped up its global
operations as weak natural gas prices continued to hurt demand
for pressure pumping services in North America.
Net income rose 22 percent to $341 million, or 77 cents per
share in the third quarter, from $279 million, or 63 cents per
share, a year earlier.
Excluding one-time items related to restructuring in Latin
America, Baker Hughes earned 81 cents per share.
Analysts on average had expected earnings of 78 cents on
revenue of $5.77 billion.
Schlumberger Ltd, the world's largest oilfield
services provider, also reported a profit that topped analysts'
estimates due to a resilient North American market and growth in
its international business.
Baker Hughes shares, which have risen 5 percent in the last
three months, closed at $51.78 on the New York Stock Exchange on