Halliburton Q3 Earnings Surpass Expectations Amid Increased Global Drilling Activities
Boosted by increased international drilling and equipment demand, oilfield services provider Halliburton posts Q3 profit of $716 million and earnings per share of 79 cents, beating analysts' average estimates despite North American weakness.
- Halliburton's Q3 profit surpassed market expectations due to increased global drilling and equipment demand, offsetting North American weaknesses.
- The increased global demand has been driven by oil and gas companies seeking new offshore and international sources after the market disruption caused by Russia's invasion of Ukraine.
- Halliburton's international revenue rose 3% to $3.2 billion from a quarter ago, led by strong performance in Latin America.
- Conversely, the company saw a 3% fall in North American revenue to $2.6 billion, driven by lower demand for onshore pressure pumping services and weaker maintenance and repair work in the Gulf of Mexico.
- Despite beating earnings estimates, Halliburton shares fell 1% in premarket trading.
Reuters 
Washington Post 
