Halliburton reported third quarter earnings that beat analyst's expectations on Monday and revenue that topped forecasts.
The firm reported income from continuing operations of $435 million, or $0.50 per diluted share and revenue of $6.17 billion.
Analysts polled by forecast EPS of $0.49 on revenue of $6.11 billion.
“Our team optimized our performance in North America in the face of short-term challenges, and the recovery of our international operations continued,” CEO Jeff Miller said. He added that a combination of offtake capacity constraints and customers’ budget exhaustion led to less demand than expected for completion services in North America but he considers those issues to be transitory.
At 7:04 AM ET (11:04 GMT), Halliburton (NYSE:HAL) stock gained 0.85% to $37.86. As of Friday's close shares are down 23.26% so far this year, under-performing the S&P 500 which is up 3.13% year to date.
Halliburton follows other major Energy sector earnings this month
On Friday, Schlumberger reported third quarter EPS of $0.46 on revenue of $8.5B, compared to forecasts of EPS of $0.45 on revenue of $8.6B.
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