HOUSTON (AP) — Halliburton Co. (HAL) on Monday reported third-quarter net income of $435 million.
The Houston-based company said it had net income of 50 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $6.17 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $6.13 billion.
Halliburton shares have declined 23 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 3.5 percent. The stock has decreased 13 percent in the last 12 months.
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