HOUSTON (AP) — HOUSTON (AP) — Halliburton Co. (HAL) on Monday reported profit of $1.2 billion in its third quarter.
The Houston-based company said it had profit of $1.41 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to $1.19 per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The provider of drilling services to oil and gas operators posted revenue of $8.7 billion in the period, which also beat Street forecasts. Analysts expected $8.5 billion, according to Zacks.
Halliburton shares have increased roughly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. The stock has climbed slightly in the last 12 months.