Halliburton profit flat, but still tops estimates

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

(AP) NEW YORK - Halliburton Co. (HAL) says net income was flat in the second quarter as an increase in international drilling was balanced by a slowdown in North America.

The Houston oil and natural gas services firm on Monday reported net income of $737 million, or 79 cents per share, from April to June. That compares with $739 million, or 80 cents per share, for the same part of 2011. Revenue increased 22 percent to $7.23 billion.

Excluding charges from discontinued operations, Halliburton says it earned 80 cents per share in the quarter.

Analysts, who typically exclude special charges, were expecting earnings of 75 cents per share on revenue of $6.93 billion, according to FactSet.

Shares rose by 78 cents, or 2.5 percent, to $31.55 per share in premarket trading.