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Halliburton posts lower Q3 adjusted net income YOY, meets estimates

Oilfield services major Halliburton Co. reported Oct. 21 an adjusted net income of $295 million, or 34 cents per share, for the third quarter, down from $435 million, or 50 cents per share, a year earlier.

The third-quarter results met the S&P Global Market Intelligence consensus estimate of 34 cents per share.

Revenue totaled $5.55 billion for the quarter, a decrease from $6.17 billion in the year-ago period.

The revenue was driven by the completion and production segment at $3.51 billion during the quarter, a drop from $4.17 billion in the prior-year period.

The drilling and evaluation segment contributed $2.04 billion in revenue, a decrease of $81 million from the second quarter.