By Tess Stynes
Halliburton Co. said its fourth-quarter earnings rose 19% led by revenue growth in its international operations, while North America growth was modest.
The oil-field services giant reported a profit of $793 million, or 93 cents a share, up from $669 million, or 72 cents a share, a year earlier. Excluding restructuring-related items, year-earlier adjusted earnings from continuing operations was 83 cents. Revenue increased 4.8% to $7.64 billion.
Analysts polled by Thomson Reuters expected per-share profit of 89 cents and revenue of $7.55 billion.
Despite a boom in drilling across the U.S., Halliburton and other oil-field services companies have faced challenges from a stubborn oversupply of hydraulic-fracturing equipment used to extract oil and gas from shale formations as well as increased pressure from small upstart rivals. Halliburton, the largest provider of hydraulic fracturing services in the U.S. has taken steps to rein in costs to bolster its performance to help offset pricing pressures.
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(END) Dow Jones Newswires
January 21, 2014 07:42 ET (12:42 GMT)Copyright (c) 2014 Dow Jones & Company, Inc.
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