Halliburton Q3 Earnings Beat Views

reported stronger-than-expected earnings for the third quarter on Monday. The Houston, Texas-based company posted a quarterly loss of $54 million, or $0.06 per share, versus a year-ago profit of $1.2 billion, or $1.41 per share. Excluding non-recurring items, the company's adjusted earnings came in at $0.31 per share. Its revenue declined to $5.58 billion from $8.7 billion. However, analysts were projecting a profit of $0.27 per share on revenue of $5.64 billion. The average estimate among 66 Estimize users was for earnings of $0.30 per share and revenue of $5.64 billion Completion and Production revenue dropped to $3.2 billion from $5.4 billion, while Drilling and Evaluation revenue declined to $2.4 billion from $3.3 billion. "We are pleased with our third quarter results, especially the resilience of our international business, where we outperformed our largest peer on a sequential and year-over-year basis for both revenue and margins," said Jeff Miller, President. Halliburton shares declined 3.72 percent to close at $37.80 on Friday.