Halliburton Profit Falls, Revenue Misses Expectations

Date : 10/21/2019 @ 11:29AM
Source : Dow Jones News
Stock : Halliburton Co (HAL)
Quote : 22.08  0.0 (0.00%) @ 1:25PM
Last Trade
Last $ 22.12 ▲ 0.04 (0.18%)

Halliburton Profit Falls, Revenue Misses Expectations

Halliburton (NYSE:HAL)
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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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