Halliburton profit beats as company cuts cost; shares rise

) on Monday beat analysts’ estimates for second-quarter profit as its largest oil-well services unit exceeded expectations, putting the company’s shares on track for the biggest one-day gain in nearly three years.The Houston-based oilfield company is the largest provider of hydraulic fracturing services in North America, a segment of the oilfield services business that has been hard-hit by overcapacity, making it difficult to raise prices.

Revenues for its Completion and Production unit, which provides hydraulic fracturing services and tools to complete oil and gas wells, rose 4% from the prior quarter to $3.8 billion. The company also boosted margins in that segment by cutting costs and maximizing equipment usage, Miller said on a conference.

Halliburton posted a strong increase outside North America, with revenue from international markets jumping more than 12% to $2.60 billion, in contrast to the 13.2% decline in North America to $3.33 billion.

Probably time for the US to begin another war so that this awful, immoral company can keep up its return to shareholders. Btw, how much Halliburton profit is directed via offshore / Delaware companies?

uk is not great, as its was its usa baby ,new baby pm tusday TRUMP SON BORIS

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Source: CNBC - 🏆 12. / 72 Read more »