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Halliburton Stock Falls as Revenue Misses, Earnings in Line

Halliburton shares were lower after the oil-services giant reported bottom-line results that matched estimates while missing on revenue.
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Halliburton  (HAL) - Get Halliburton Company (HAL) Report shares were lower after the oil-services giant reported bottom-line results that matched estimates while missing on revenue. 

The Houston company reported third-quarter net income of $236 million, or 28 cents a share, on revenue of $3.86 billion. 

Analysts surveyed by FactSet were expecting earnings of 28 cents on revenue of $3.89 billion. 

"Both operating divisions experienced revenue growth in the international and North America land markets," Chief Executive Jeff Miller said in a statement. 

"Our Completion and Production division delivered solid mid-teens margins, and our Drilling and Evaluation division margins maintained their steady momentum," 

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Shares of Halliburton at last check were XX at $25.96. 

The completion and production segment reported operating profit of $322 million as revenue rose 4% to $2.1 billion.. 

Halliburton's drilling and evaluation segment registered an operating loss of $186 million as revenue also rose 4%, to $1.7 billion.

International revenue rose 5% quarter to quarter, driven by higher activity across multiple product service lines in Latin America

"I see a multiyear upcycle unfolding," Miller said. "Structural global commodity tightness drives increased demand for our services, both internationally and in North America." 

Halliburton is positioned in both markets to benefit "from this improving environment," he said.