Halliburton Profit Falls, Revenue Misses Expectations
October 21 2019 - 7:29AM
Dow Jones News
By Patrick Thomas
Oilfield services company Halliburton Co. (HAL) said its profit
fell for its third quarter as revenue declined 10% amid softness in
its North America business.
The Houston-based company reported a profit of $295 million, or
34 cents a share, compared with $435 million, or 50 cents a share,
a year ago.
Analysts polled by FactSet were expecting earnings of 35 cents a
share.
Revenue fell to $5.6 billion from $6.17 billion a year earlier.
Analysts had expected $5.82 billion of revenue in the quarter.
North America revenue decreased 11% sequentially, driven by
customer activity declines, the company said.
Oilfield-services companies face a challenge as U.S. shale
drillers look to cut spending amid a production slowdown.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
October 21, 2019 07:14 ET (11:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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