Halliburton tops on expansion

Investor's Business Daily

The No. 2 oilfield service provider said Q1 EPS fell 25% to 67, but still beat views by 10 cents. Revenue rose 1% to $7 bil, above estimates of $6.9 bil. Results did not include costs related to the Deepwater Horizon oil spill. Halliburton's (HAL) international revenue rose 21% as Middle East-Asia revenue grew 25% and operating income rose 51%. Latin America revenue was up 21%, but operating income fell 11% on 1-time items: severance costs in Argentina and a decline in rig count in Mexico. Shares rose 5.6% to 39.29.

View Comments (0)