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New Articles

Thursday, 24 July, 2008, 10:40 GMT | more prices >>

Halliburton rakes in profits

By Upstream staff

Oilfield services giant Halliburton has seen its second-quarter profit from continuing operations increase by 19%, topping Wall Street estimates, on strength in international markets and better-than-expected revenue.

Profit from continuing operations climbed to $595 million, or 63 cents a diluted share, from $498 million, or 47 cents a share, a year earlier.

Also included in second-quarter 2007 operating income was an after-tax gain of 3 cents a diluted share from the sale of an investment, Halliburton said.

Excluding one-time items, analysts on average had expected the company to report a profit of 56 cents a share, according to Reuters Estimates.

Total revenue for Halliburton, which has headquarters in Houston and Dubai, rose 20 percent to $3.7 billion. Analysts had expected about $3.5 billion.