Schlumberger Ltd.

Schlumberger Ltd. The world's largest oilfield services company reported that its revenues jumped 24 percent in the third quarter but said Friday that the global economic crisis will undoubtedly take a toll.

With a barrel of oil topping $100 for most of the quarter, Schlumberger reported net income of $1.53 billion, or $1.25 per share, up from $1.35 billion, or $1.09 per share, in the same period last year.

A violent hurricane season cut away 4 cents per share in profits for the quarter, Schlumberger said. Without the disruptions, diluted earnings-per-share would have been $1.29.

Schlumberger reported revenue of $7.26 billion, up from $5.93 billion last year.

Profits, excluding disruptions from hurricanes Gustav and Ike, matched the per-share estimates of analysts polled by Thomson First Call. Revenue slightly exceeded expectations of just over $7 billion.

Schlumberger Ltd. is the first major company in the oil sector to report quarterly results and is a bellwether.