Halliburton hikes revenues by 38%

Increasing income: Halliburton uses unconventional boom and other factors to lift net income by $1 billion in 2011

Halliburton has reported a 38% rise in annual revenues to $24.8 billion, as well as fourth quarter net income of $906 million, or $0.98 per diluted share.

2011 consolidated operating income was $4.7 billion, an increase of 57% from 2010, while income from continuing operations for the full year was $3.0 billion, compared to $1.8 billion in 2010.

Net income rose to $2.844 billion in 2011 compared to $1.842 billion in 2010.

The New York-listed company said the increases were “largely attributable to strong results in North America”, citing the unconventional drilling boom, but said the rises were “partially offset by disruptions caused by geopolitical events in North Africa”.

Chief executive Dave Lesar said the year had seen record revenues for…

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