Schlumberger Nails It

First-quarter earnings surge.
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(SLB) - Get Report

blew away first-quarter targets Tuesday, citing exceptionally strong results in North America, led by gains in Canada.

For the third quarter ended March 31, the oil services giant earned $524 million, or 87 cents a share, from continuing operations. That's up from the year-ago $107 million, or 18 cents a share.

Revenue rose to $3.16 billion from $2.67 billion a year earlier.

Excluding special items, latest-quarter earnings surged to 65 cents a share from 44 cents a year ago, beating the Thomson First Call analyst consensus estimate by 3 cents.

Schlumberger closed Monday at $71.70.