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The company's revenue from North America surged 83 percent to
$2.77 billion in the second quarter, due to increased demand for
pumping and well-construction services in the region.
Halliburton said margins in its biggest market by sales grew
"into double digits" in the quarter and CEO Jeff Miller expected
margins from the region to improve.
The commentary on margins is crucial as Wall Street was already
expecting oilfield services companies to beat last year's weak
results.
Last week, bigger rival Schlumberger Ltd <SLB.N> also reported
strong quarterly results and said it would redeploy all of its
pressure pumping fleet by early next quarter.
U.S. oil producers added 94 rigs in the three months to June 30
as shale companies have been able to profitably pump oil even as
crude prices hover below $50.
Net profit attributable to Halliburton was $28 million, or 3
cents per share, in the second quarter ended June 30, compared
with a loss of $3.21 billion, or $3.73 per share, a year
earlier.
The year-ago quarter included a $3.5 billion charge related to
the termination of the Baker Hughes deal.
Halliburton's revenue rose 29 percent to $4.96 billion, marking
the company's second straight quarter of increase, after seven
quarters of double-digit percentage declines.
Excluding items, the company earned 27 cents per share in the
reported quarter, while analysts expected a profit of 18 cents,
according to Thomson Reuters I/B/E/S.
Halliburton's shares were up at $45.50 in premarket trading on
Monday.
(Reporting by Nivedita Bhattacharjee and Yashaswini Swamynathan
in Bengaluru; Editing by Arun Koyyur)
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