National Oilwell Varco
earned $481 million, or $1.13 a share, in the second quarter, up from year-earlier earnings of $401 million, or 96 cents a share.
On an adjusted basis, second-quarter earnings were $1.14 a share. Analysts surveyed by Thomson Reuters were expecting the oilfield equipment maker to earn $1.01 a share.
Revenue in the quarter rose 19% to $3.5 billion. Analysts expected revenue of $3.24 billion.
National Oilwell Varco said second-quarter revenue for its rig technology segment were $1.89 billion, up 13% from the same time last year. Operating profit for the segment was $517 million, or 27.3% of sales, the company said.
-- Written by Joseph Woelfel
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