UPDATE: National Oilwell Varco Reports Better-Than-Expected FQ2 Results

National Oilwell Varco Inc NOV released its results for the fiscal second quarter on Tuesday. NOV's quarterly earnings rose to $481 million, or $1.13 per share, from $401 million, or $0.96 per share, in the year-earlier period. Its total revenue gained 19% y/y to $3.51 billion. On continuing basis, NOV's net income came in at $484 million, or $1.14 per share. Analysts were expecting earnings of $1.01 per share on revenue of $3.25 billion. NOV shares gained 1.45% to $83.50 in pre-market trading.