Halliburton Beats On Profit, Sales Despite Demand Challenges

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Halliburton Beats On Profit, Sales Despite Demand Challenges

   Micah Maidenberg

Halliburton Co. (HAL) reported a profit of $435 million, or 50 cents a share, in the third quarter, despite what the oilfield services company said was weaker demand in North America for some services.

Earnings were up 19% compared to the same period last year. Analysts surveyed by FactSet predicted 49 cents a share.

Sales rose 13% to $6.17 billion for the quarter, beating than the $6.11 billion analysts expected, according to FactSet.

Halliburton's largest segment, completion and production, booked sales of $4.17 billion in the third quarter, up 15% from last year. The unit sells everything from cement oil-well casings to chemicals.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

October 22, 2018 07:14 ET (11:14 GMT)

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