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Halliburton (HAL) 1Q Earnings Jump 48 Pct On Double-Digit Revenue Growth

 April 18, 2012 07:22 AM
 


(By Balachander S) Halliburton Co. (NYSE:HAL), an oilfield services company, posted better-than-expected quarterly earnings, spurred by double-digit revenue growth at all of its regions.

Adjusted earnings from continuing operations increased to $826 million or $0.89 per share for the first quarter from $558 million or $0.61 per share in the year-ago quarter. Quarterly numbers topped analysts' expectations of earnings of 85 cents a share.

Revenue soared 30 percent to $6.9 billion, beating consensus estimates of $6.78 billion. Revenue from North America jumped 40 percent and Latin America revenue gained 27 percent, and international operations continue to show good progress, the company said.

[Related -Halliburton Company (HAL): Near-Term Choppiness, But Long-Term Positive]

Halliburton expects the transient impact of some additional natural gas rig dislocation, further cost inflation, continued pricing pressure, and the impact of spring breakup in Canada to negatively impact its North America margins by 200 to 250 basis points in the second quarter.

HAL shares, which have been trading in the range of $27.21 to $57.77 over the past year, ended Tuesday's regular trading at $32.66.

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