Halliburton shares gain after topping first-quarter forecasts

Investing.com -- Halliburton reported better-than-expected first-quarter earnings and revenue on Tuesday, driving its shares 1.5% higher in premarket trading.

The oilfield services company posted adjusted earnings of $0.60 per share, beating the analyst estimate of $0.50, on revenue of $5.4 billion, ahead of the $5.31 billion consensus.

Operating margin for the quarter was 13%, while adjusted operating income came in at $679 million, down from $787 million in the year-ago period.

“I am pleased with Halliburton’s performance this quarter,” commented Jeff Miller, Chairman, President and CEO of Halliburton.

“In North America, I see clear signs that we are in the early innings of a recovery. In international markets, our performance around the world outpaced disruptions from the Middle East conflict."

By division, Drilling and Evaluation revenue rose 4% year-over-year to $2.4 billion, while Completion and Production revenue slipped 3% to $3.0 billion.

Geographically, international revenue grew 3% to $3.3 billion, offsetting a 4% decline in North America, where revenue fell to $2.1 billion amid lower stimulation and artificial lift activity.

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