Halliburton earns $679 million in 2Q, decline of 8 per cent, but beats Wall Street projections | iNFOnews | Thompson-Okanagan's News Source

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Halliburton earns $679 million in 2Q, decline of 8 per cent, but beats Wall Street projections

July 22, 2013 - 4:51 AM

HOUSTON - Halliburton is reporting an 8 per cent 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 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 per cent to $7.32 billion from $7.23 billion a year ago, also topping expectations despite an 8 per cent 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 per cent before the opening bell.

News from © The Associated Press, 2013
The Associated Press

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