NEW YORK ( TheStreet) -- Schlumberger ( SLB), the oilfield services company, earned $1.3 billion, or 96 cents a share, in the third quarter, down from $1.73 billion, or $1.38, a year earlier. Year-earlier earnings included a gain of 98 cents a share on its investment in M-I Swaco as a result of the merger with Smith International. Earnings, excluding charges and credits, were 98 cents a share in the latest third quarter. Revenue in the quarter jumped to $10.23 billion from $6.85 billion a year earlier. Analysts surveyed by Thomson Reuters expected Schlumberger to earn $1.01 a share on revenue of $10.23 billion. The company on Friday said oilfield services revenue rose 44% from last year to $9.55 billion. "While the financial turmoil introduces some uncertainty over near-term activity, we remain confident that any reductions will be short-lived, and that the outlook for the service industry remains very positive," Schlumberger said in a statement. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.