Halliburton tops Wall Street expectations

A Halliburton complex in far Southwest Houston occupies several acres of land Monday, July 17, 2006 in Houston. The oil services conglomerate posted second-quarter net income nearly double that of a year ago. (AP Photo/Pat Sullivan) AP

HOUSTON Halliburton (HAL) 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.




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