Halliburton Q1 earnings beat estimates
Luke Sharrett/Bloomberg News ServiceThe Houston-based company said it had net income of 72 cents per share. The company said the outlook for oil drilling is bright, bucking rivals that predicted an imminent slowdown in demand. The profit was its strongest first-quarter showing in more than a decade.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share. The provider of drilling services to oil and gas operators posted revenue of $5.68 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $5.5 billion.
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