No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Halliburton Company posted above-forecast quarterly numbers on Tuesday, despite a slowdown in the Middle East following the outbreak of war.
The Houston, Texas-based oilfield services provider saw net income rise to $0.55 per diluted share in the three months to March end, compared to $0.24 a year previously. Analysts had been expecting net income closer to $0.50 a share.
Total revenues were largely flat at $5.4bn.
Driving the performance was a 22% spike in revenues in Latin America, and a 11% jump in Europe and Africa. That robust demand helped offset a 13% slide in the Middle East/Asia, on the back of lower activity across multiple product service lines in Saudi Arabia and decreased drilling related services in Qatar.
Chief executive Jeff Miller said he was "pleased" with first-quarter trading.
"In North America, I can see clear signs that we are in the early innings of a recovery. In international markets, our performance around the world outpaced disruptions from the Middle East conflict," he said.
As at 1330 BST, Halliburton was up 1% in pre-market trading.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.