Halliburton shares jump 2% premarket as Q2 profit tops estimates

Halliburton Co. shares
rose 2% in premarket trade Tuesday, after the company posted stronger-than-expected profit for the second quarter. The energy services company said it had net income of $227 million, or 26 cents a share, in the quarter, up from $170 million, or 19 cents a share, in the year-earlier period. Revenue rose to $3.707 billion from $3.451 billion. The FactSet consensus was for EPS of 22 cents and revenue of $3.710 billion. Completion and production revenue was up 10% at $2 billion versus the first quarter. Drilling and evaluation revenue rose 5% to $1.7 billion from the first quarter. North America revenue was up 12% at $1.6 billion, and international revenue was up 4% at $2.1 billion. Shares have gained 2.4% in the year to date, while the S&P 500
has gained 13%.

Leave a Comment