Texas-Based Halliburton Reports 4Q Loss Of $149M
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HOUSTON (AP) - Halliburton Co. has reported a loss of $149 million in its fourth quarter.
The Houston-based company said Monday that it lost 17 cents per share. Earnings, adjusted for one-time gains and costs, were 4 cents per share.
The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $4.02 billion in the period, missing Street forecasts. Eleven analysts surveyed by Zacks expected $4.08 billion.
Halliburton shares have increased slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1.5 percent. The stock has risen 93 percent in the last 12 months.
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