By Tess Stynes
Halliburton Co. said its fourth-quarter earnings rose 19% led by
revenue growth in its international operations, while North America
growth was modest.
The oil-field services giant reported a profit of $793 million,
or 93 cents a share, up from $669 million, or 72 cents a share, a
year earlier. Excluding restructuring-related items, year-earlier
adjusted earnings from continuing operations was 83 cents. Revenue
increased 4.8% to $7.64 billion.
Analysts polled by Thomson Reuters expected per-share profit of
89 cents and revenue of $7.55 billion.
Despite a boom in drilling across the U.S., Halliburton and
other oil-field services companies have faced challenges from a
stubborn oversupply of hydraulic-fracturing equipment used to
extract oil and gas from shale formations as well as increased
pressure from small upstart rivals. Halliburton, the largest
provider of hydraulic fracturing services in the U.S. has taken
steps to rein in costs to bolster its performance to help offset
pricing pressures.
Write to Tess Stynes at tess.stynes@wsj.com
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