Halliburton Co. has reported a third-quarter loss of $54 million, after reporting a profit in the same period a year earlier.
The Houston-based company said Monday, on a per-share basis, it had a loss of 6 cents. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $5.58 billion in the period, falling short of Street forecasts. Ten analysts surveyed by Zacks expected $5.67 billion.
Copyright AP - Associated Press
