HOUSTON (AP) — Halliburton Co. (HAL) on Wednesday reported a second-quarter loss of $3.21 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of $3.73. Losses, adjusted for one-time gains and costs, came to 14 cents per share.
The results beat Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $3.84 billion in the period, also surpassing Street forecasts. Fourteen analysts surveyed by Zacks expected $3.74 billion.
Halliburton shares have increased 32 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 6 percent. The stock has risen 10 percent in the last 12 months.