Halliburton Posts $1.7 Billion Q2 Loss; Revenues Plunge

Halliburton Posts $1.7 Billion Q2 Loss; Revenues Plunge

Halliburton Co.  (HAL) – Get Report posted a narrower-than-expected second loss Monday, but still saw revenues at less than half of last year’s total as the coronavirus pandemic crippled crude drilling projects in key markets around the world. 

Halliburton said its adjusted loss for the three months ending in June was pegged at 5 cents per share, down from a profit of 35 cents a share last year and modestly better than the Street consensus forecast. The company’s reported loss was $1.91 per share, or $1.7 billion. Group revenues, Halliburton said, fell 45.8% from last year to $3.2 billion, missing analysts’ estimates of a $3.35 billion tally.

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