Halliburton Has Profitable Quarter

Revenue rises 4% for the three months ended June 30.
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Halliburton

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turned a profit in the second quarter after posting a loss in the year-ago period, and the energy services company said revenue rose 4% for the three months ended June 30.

Second-quarter earnings totaled $392 million, or 76 cents a share, compared with a loss of $667 million, or $1.52 a share, last year.

Consolidated revenue was $5.16 billion, up from $4.96 billion a year ago, largely because of higher activity in the energy services group, about half of which was derived from international growth.

The company said this was partly offset by lower revenue at KBR on government services projects in the Middle East, as well as a reduction in work on offshore engineering, procurement, installation and commissioning and other oil and gas projects nearing completion.

Halliburton's Iraq-related work contributed about $1.4 billion in revenue in the second quarter.