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Halliburton Tops Q1 Revenue Estimate as International Sales Rise On Oil Rebound

Martin Baccardax

posted stronger-than-expected first quarter revenues Monday as a surge in global oil prices helped boost international drilling activity and offset rising costs in North America. Halliburton said adjusted earnings for the three months ending in March came in at 23 cents per share, down around 44% from the same period last year but largely in-line with analysts' forecasts. Group sales, however, were little changed at $5.7 billion and topped the Street consensus estimate of $5.53 billion as North American drilling activity increased put pricing headwinds accelerated.