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National Oilwell Varco: 3Q Earnings Snapshot

HOUSTON (AP) _ National Oilwell Varco (NOV) on Thursday reported third-quarter net income of $1 million, after reporting a loss in the same period a year earlier.

The Houston-based company said it had profit of less than 1 cent on a per-share basis.

The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The oil and gas industry supplier posted revenue of $2.15 billion in the period, which also fell short of Street forecasts. Ten analysts surveyed by Zacks expected $2.21 billion.

National Oilwell Varco shares have risen nearly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. In the final minutes of trading on Thursday, shares hit $37.01, an increase of 10 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOV at https://www.zacks.com/ap/NOV