With each segment performing so well, it came as no surprise that operating income grew 9% year over year and 13% from the April the quarter. Even more impressive was the fact that despite the perpetual weakness in North America and the sluggishness in Latin America, management was able to grow margins both on a year-over-year basis and sequentially. Given the fragile nature of this sector, I can't take for granted how hard of an accomplishment this is, especially when Baker Hughes missed its margin estimates. I'm not suggesting this was a blowout quarter for Schlumberger. But I do believe the company has shown plenty of signs that the worst is over and better results are on the way. If nothing else, it's reassuring that management continues to show that it can do more with less while also laying out steps to grow earnings-per-share faster than revenue. Along those lines, one of the stated goals is the company wants to establish the highest margins in North America. Follow @saintssense This article was written by an independent contributor, separate from TheStreet's regular news coverage.