NEW YORK (TheStreet) -- Halliburton swung to a profit and reported better-than-expected first-quarter results on Monday, while also forecasting a 25% jump in earnings for the current quarter.

VIDEO TRANSCRIPT:

Shares of Halliburton (HAL) were climbing on Monday after the oilfield services company reported better-than-expected first-quarter results and a forecast a 25% jump in earnings in the current quarter.

Halliburton reported net income of $622 million, or 73 cents a share, for the quarter, a swing from a year-earlier loss of $18 million, or 2 cents a share. Analysts expected profit of 71 cents, according to Thomson Reuters.

The company also reported improved revenue, especially from the Eastern Hemisphere, where revenue grew 11%, helping to offset weakness in North America where drilling has been on the decline.

WATCH: More videos from Brittany Umar on TheStreet TV

The results are a big swing from the same period a year ago, when the company was hampered by a charge related to the 2010 Deepwater Horizon oil spill. Halliburton had been a contractor for BP (BP), which owned the well that caused the disaster.

At last check, shares of Halliburton were climbing about 3.4% to $62.98.

In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

More from Stocks

Stocks Tumble as Trump Comments Lead to Worries Over China Trade Talks

Stocks Tumble as Trump Comments Lead to Worries Over China Trade Talks

Bank Stocks Slump After Congress Greenlights Dodd-Frank Rollback

Bank Stocks Slump After Congress Greenlights Dodd-Frank Rollback

10 Questions for PayPal Ahead of Its Big Investor Day

10 Questions for PayPal Ahead of Its Big Investor Day

Tesla's Model 3 Is Far From Being for the Masses -- at Least For Now

Tesla's Model 3 Is Far From Being for the Masses -- at Least For Now

China Makes Good on Car Tariff Pledge, Tesla Wins Big

China Makes Good on Car Tariff Pledge, Tesla Wins Big