Halliburton Company (HAL) has reported a decrease in profit for the first quarter of this year compared to the same time last year. Despite this, the results have surpassed expectations from market analysts.
The company reported a net income of $606 million or $0.68 per share, a slight drop compared to $651 million or $0.72 per share in the first quarter of the previous year.
Upon excluding certain items, Halliburton's adjusted earnings amounted to $679 million or $0.76 per share for the quarter.
On average, analysts had predicted a per-share earning of $0.74, according to data compiled by Thomson Reuters. These predictions generally exclude special items.
Halliburton's revenue for the quarter showed a 2.1% increase, amounting to $5.80 billion, up from $5.68 billion during the same period last year.
To give a basic economic overview of Halliburton's earnings (based on Generally Accepted Accounting Principles):
- Quarter 1 earnings: $606 million, compared to $651 million last year.
- Earnings per share for Quarter 1: $0.68, compared to $0.72 last year.
- Revenue for Quarter 1: $5.80 billion, compared to $5.68 billion last year.
