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The company's shares rose 3.8 percent to $48.69
before the bell on Monday after it posted a better-than-expected
quarterly profit, helped by higher revenue and operating income
from Latin America, the Middle East and Asia.
However, revenue and profit from all other regions fell due to
the global slump in oil prices <LCOc1> <CLc1>, which have nearly
halved since peaking last June.
"Industry prospects will continue to be challenged in the coming
quarters," Chief Executive Dave Lesar said in a statement.
Halliburton agreed to buy smaller rival Baker Hughes Inc <BHI.N>
for $35 billion last November, to better negotiate the slump in
oil and resist pressure from oil producers to slash prices.
Excluding one-time items, Halliburton earned 49 cents per share,
above the average analyst estimate of 37 cents, according to
Thomson Reuters I/B/E/S.
Analysts covering the stock have cut their first-quarter
earnings estimate for Halliburton by over a third in the past
month.
Revenue fell 4 percent to $7.05 billion, but beat the analysts'
average expectation of $6.96 billion.
Halliburton's shares closed at $46.89 on the New York Stock
Exchange on Friday. The stock has fallen nearly a third since
June.
(Reporting by Shubhankar Chakravorty in Bengaluru; Editing by
Simon Jennings)
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