HOUSTON (AP) _ Halliburton Co. (HAL) on Tuesday reported a loss of $ 2.41 billion in its first quarter.
The Houston-based company said it had a loss of $ 2.81 per share. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 7 cents per share.
The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $ 4.2 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $ 4.19 billion.
Halliburton shares have increased 24 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 2 percent. The stock has declined 14 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HAL at http://www.zacks.com/ap/HAL
Keywords: Halliburton, Earnings Report