BC-US–Earns-Halliburton, 1st Ld-Writethru
HOUSTON (AP) _ Halliburton Co. (HAL) on Tuesday reported a loss of $235 million in its fourth quarter.
The Houston-based company said it had a loss of 27 cents per share. Earnings, adjusted for one-time gains and costs, came to 18 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $3.24 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $3.21 billion.
For the year, the company reported that its loss widened to $2.95 billion, or $3.34 per share. Revenue was reported as $14.45 billion.
Halliburton shares have climbed roughly 10% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has decreased 13% in the last 12 months.