Halliburton 4Q tops Wall Street expectations

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by Associated Press

WCNC.com

Posted on January 25, 2013 at 11:35 AM

HOUSTON (AP) -- Halliburton is reporting a 26 percent decline in fourth-quarter net income, hit by costs from the Deepwater Horizon disaster, acquisitions and a seasonal slowdown in North America.  

But adjusted results beat Wall Street expectations and shares are rising before the opening bell Friday.  

The oilfield services company earned $669 million, or 72 cents per share. That's down from $906 million, or 98 cents per share, a year ago. 

Removing one-time charges and gains, earnings from continuing operations were 67 cents per share. 

Revenue increased 3 percent to $7.29 billion from $7.06 billion, bolstered by international growth. 

Analysts expected earnings of 61 cents per share on revenue of $7.06 billion. 

Halliburton Co. said that it expects 2013's North American rig count will be down slightly from a year ago.
 

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