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Halliburton 2Q profit off 8 pct; tops expectations

Halliburton is reporting an 8 percent decline in second-quarter profits and revenue also declined in North America, but it edged out Wall Street expectations and shares are up in premarket trading

The Jakarta Post
US
Mon, July 22, 2013

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Halliburton 2Q profit off 8 pct; tops expectations

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alliburton is reporting an 8 percent decline in second-quarterprofits and revenue also declined in North America, but it edged outWall Street expectations and shares are up in premarket trading.

The oilfield services reported net income of $679 million, or 73 cents per share, on Monday. A year ago, earnings were $737 million, or 79 cents per share.

Analysts had been expecting 72 cents per share, according to FactSet.

Overall revenue edged up 1 percent to $7.32 billion from $7.23 billion a year ago, also topping expectations despite an 8 percent revenue slide in North America. Total revenue, despite the drag in North America, was an all-time best for the second quarter.

Shares of Halliburton Co., based in Houston, are up about 1 percent before the opening bell.

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