Halliburton 4Q Tops Wall Street ExpectationsJanuary 25th, 2013 12:32 pm Associated Press
HOUSTON (AP) — Halliburton is reporting a 26 percent decline in fourth-quarter net income, hit by costs from the Deepwater Horizon disaster, acquisitions and a seasonal slowdown in North America.
But adjusted results beat Wall Street expectations and shares are rising before the opening bell Friday.
The oilfield services company earned $669 million, or 72 cents per share. That’s down from $906 million, or 98 cents per share, a year ago.
Removing one-time charges and gains, earnings from continuing operations were 67 cents per share.
Revenue increased 3 percent to $7.29 billion from $7.06 billion, bolstered by international growth.
Analysts expected earnings of 61 cents per share on revenue of $7.06 billion.
Halliburton Co. said that it expects 2013′s North American rig count will be down slightly from a year ago.