Halliburton's stock edges lower as second-quarter revenue falls short of estimates
Halliburton Co.'s stock (HAL) edged lower in premarket trade Wednesday, after the oil services company's second-quarter revenue fell slightly short of estimates. The company posted net income of $610 million, or 68 cents a share, for the quarter, up from $117 million, or 12 cents a share, in the year-earlier period. Adjusted per-share earnings came to 77 cents, ahead of the 75 cent FactSet consensus. Revenue rose to $5.798 billion from $5.074 billion, just below the $5.850 billion FactSet consensus. Completion and production revenue came to $3.5 billion, up 2% from the first quarter, while drilling and evaluation revenue was down 2% at $2.3 billion. The stock has fallen 3% in the year to date, while the S&P 500 has gained 18.6%.
-Ciara Linnane
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