Halliburton: profit beats; international growth continues
(CercleFinance.com) - Oilfield service company Halliburton posted higher-than-expected quarterly earnings on Monday, boosted by the group's international growth momentum.
Halliburton's second-quarter net profit fell to 75 million dollars, or 9 cents per share, down from 511 million dollars, or 28 cents per share, a year earlier.
However, excluding impairments and other charges, earnings per share were 35 cents, topping the 30 cents that analysts had forecast on average.
Revenue dropped to 5.9 billion dollars, from 6.1 billion dollars, while analysts were expecting 6 billion dollars.
Still, the Houston-based Halliburton said its international revenue increased 6% sequentially, confirming expectations of high single-digit international growth for all of 2019.
"Momentum is building internationally and activity improvement should continue into 2020," the group added.
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