Shares of National Oilwell Varco (NYSE:NOV) saw a bit of a price spike following the release of the company's Q3 results on Friday. For the quarter, total revenue was $5.69 billion, up from the $5.32 billion in the same period the previous year. Net income came in at $636 million ($1.49 per diluted share), an improvement over Q3 2012's $609 million ($1.43).
The most recent quarter's figures matched the average analyst estimate for revenue but trumped the expectation of $1.32 for per-share earnings.
All three segments of National Oilwell Varco's business recorded increases over the one-year period. The best gainer of the trio was rig technology, which posted revenue of $2.84 billion, a 12% increase on a year-over-year basis.
Following the release of the quarterly figures, the company's stock advanced by 4.5%, or $3.59, to close the day at $82.72.
Fool contributor Eric Volkman has no position in National Oilwell Varco. The Motley Fool recommends and owns shares of National Oilwell Varco. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.