Oil service bellwether Halliburton Company (HAL - Free Report) reported higher-than-expected second quarter profit on robust international activity. The world's second-largest oilfield services company after Schlumberger (SLB - Free Report) saw its adjusted net income (excluding impairments and other charges) come in at 35 cents per share, outperforming the Zacks Consensus Estimate of 30 cents.
However, the bottom line was below the adjusted earnings of 58 cents in the year-earlier quarter on weakness in the North American market. Operatingincome reported by Halliburton was $303 million, well below the $789 million for the same period last year.
Meanwhile, revenues of $5.9 billion were 3.5% lower than the year-ago quarter and missed the Zacks Consensus Estimate by a marginal 0.6%. North American revenue fell 13.2% year over year to $3.3 billion. Revenue from Halliburton’s international operations rose 12.5% from the year-ago period to $2.6 billion, an area that continues to exhibit growth momentum.