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Halliburton’s profits top Wall Street estimates in Q3

Halliburton’s profits top Wall Street estimates in Q3
Halliburton’s profits top Wall Street estimates in Q3

Mubasher: Halliburton Co on Monday posted its third-quarter profits that surpassed Wall Street expectations on the back of the slight recovery in oil prices.

The oilfield services provider achieved a net profit of $361 million in the three-month period ended September, up from $6 million in the prior-year period.

The US-based company had previously announced that its net profit amounted to $28 million in Q2-17.

Net profit attributable to Halliburton rose 42 cents per share in Q3-17, versus 1 cent per share in Q3-16.

Analysts forecasted the firm to earn a profit of 37 cents per share on average in Q3-17, according to Thomson Reuters I/B/E/S.

Total revenue rose 42% to $5.44 billion in Q3-17, compared to $3.82 billion in the corresponding period of 2016.

Analysts were expecting Halliburton’s revenues at $5.43 billion in Q3-17.