HOUSTON (AP) _ Halliburton Co. (HAL) on Monday reported a third-quarter loss of $17 million, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 11 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $2.98 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $3.09 billion.
Halliburton shares have dropped 50% since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 8%. The stock has declined 34% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HAL at https://www.zacks.com/ap/HAL