HOUSTON (AP) —
Halliburton Co. (HAL) on Monday reported second-quarter net income of $28 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Houston-based company said it had net income of 3 cents. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $4.96 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $4.84 billion.
Halliburton shares have decreased 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 10 percent. The stock has climbed slightly more than 1 percent in the last 12 months.
Keywords: Halliburton, Earnings Report