HOUSTON (AP) _ Halliburton Co. (HAL) on Monday reported a second-quarter loss of $1.68 billion, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of $1.91 per share. Earnings, adjusted for one-time gains and costs, came to 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $3.2 billion in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $3.24 billion.
Halliburton shares have decreased 47% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has dropped 40% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HAL at https://www.zacks.com/ap/HAL
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