Halliburton: Q2 results above estimates
(CercleFinance.com) - Halliburton has reported Q2 2020 adjusted net income of 46 million dollars, meaning EPS of five cents, while analysts were expecting a loss of 12 cents per share.
The oil services group saw its operating profit halved (-53%) sequentially, to 236 million dollars, for revenues that fell by 37% to 3.2 billion dollars (-17% internationally and -57% in North America).
The company said that, despite market headwinds, the margin performance of its divisions and positive free cash flow of 456 million dollars reflect the speed and effectiveness of its cost-cutting measures.
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