HOUSTON (AP) - Halliburton Co. (HAL) on Tuesday reported fourth-quarter net income of $664 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had net income of 76 cents per share. Earnings, adjusted for pretax gains, were 41 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The provider of drilling services to oil and gas operators posted revenue of $5.94 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $5.89 billion.
For the year, the company reported net income of $1.66 billion, or $1.89 per share, swinging to a profit in the period. Revenue was reported as $24 billion.
Halliburton shares have climbed 21 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6.5 percent. The stock has dropped 39 percent 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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