(Reuters) -Oilfield services provider Baker Hughes on Thursday beat Wall Street estimates for third-quarter profit, driven by strength in its industrial and energy technology (IET) business.

As oilfield services firms navigate a volatile market, resilient areas like LNG infrastructure, power grid upgrades, and growing electricity demand from data centers are helping support growth.

Baker has been also leaning on its industrial and energy technology (IET) division to strengthen its footprint in the natural gas and LNG market, a strategy expected to underpin revenue growth and positioning in the energy transition.

The company said IET backlog rose 3% sequentially to a record $32.1 billion, while quarterly orders surged 44% year-on-year to $4.14 billion, reflecting growing demand for LNG a

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