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Net
loss attributable to Halliburton widened to $2.41 billion, or
$2.81 per share, in the three months ended March 31, from $643
million, or 76 cents per share, a year earlier.
The bigger loss was due to $2.77 billion in charges for asset
impairment and other reasons amid the prolonged slump in oil
prices.
Excluding these charges, Halliburton earned 7 cents per share,
higher than analysts average estimate of 4 cents, according to
Thomson Reuters I/B/E/S.
Halliburton had, on April 22, reported a 40.5 percent fall in
revenue, to $4.2 billion, for the quarter, during which it cut
6,000 jobs.
Revenue in the company's North American business nearly halved,
hurt by continued weakness in drilling activity and pricing.
Halliburton had postponed releasing its full results from April
22 to accommodate the April 30 deadline to close its acquisition
of Baker Hughes Inc <BHI.N>.
The deal was called off on Sunday after opposition from U.S. and
European antitrust regulators, and Halliburton is to pay Baker
Hughes a $3.5 billion breakup fee.
Last week, Baker Hughes reported a bigger first-quarter loss and
warned that the rig count globally would drop steadily through
the end of the year because of fewer new projects.
(Reporting by Amrutha Gayathri in Bengaluru; Editing by Savio
D'Souza)
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