10/19/2021, 12:51 PM (Source: TeleTrader)
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Halliburton reports Q3 revenue of $3.86B, up 30% YoY

Halliburton Company announced on Tuesday that its total revenue in the third quarter of fiscal 2021 rose 30% compared to the same period a year ago, reaching $3.86 billion.

Net income amounted to $240 million in the three months ending with September 30, 2021, improving from a $19 million net loss from the corresponding trimester in 2020. The company stated that its basic and diluted net income per share stood at $0.26 in the third three-month period, up compared to basic and diluted net loss per share of $0.02 recorded a year ago. Total operating income more than tripled on an annual basis, hitting $446 million.

"I see a multi-year upcycle unfolding. Structural global commodity tightness drives increased demand for our services, both internationally and in North America. I believe Halliburton is uniquely positioned in both markets to benefit from this improving environment," Chairman, President and CEO Jeff Miller noted.

The oil company's stock declined 1.58% in premarket trade after the report was released.

Baha Breaking the News (BBN) / MS