Schlumberger Ltd. reported that fourth-quarter income rose 22% as oil-field services revenue jumped in the Middle East and Asia .

The oil-field services company has reported strong revenue growth in recent years as ramped-up activity in areas such as Canada and the deepwater U.S. Gulf of Mexico helped offset weakness in onshore North America revenue.

Schlumberger posted a profit of $1.66 billion, or $1.26 a share, up from $1.36 billion, or $1.02 a share, a year earlier. Excluding provision for accounts receivable and other items, earnings were $1.35 a share, up from $1.04 a share.

Revenue grew 7.4% to $11.91 billion.

Analysts surveyed by Thomson Reuters projected a profit of $1.32 a share on $11.99 billion in revenue.

Oil-field services revenue from North America grew 6.6%. The Europe/Commonwealth of Independent States/ Africa region's revenue rose 8.6%.

Revenue increased 18% from the Middle East and Asia but fell 3.4% in Latin America .

On Thursday, Schlumberger raised its quarterly dividend 28% to 40 cents a share.

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