Halliburton: posts quarterly loss, activity 'stabilizing'

(CercleFinance.com) - Halliburton continued to lose money in the third quarter, but the oil-field-services company said that the pace of decline of its international markets is now slowing down.


The Houston-based giant, a bellwether for the energy industry, posted a net loss of 17 million dollars, or two cents per share, for the past quarter, compared to a net loss of 1.7 billion dollars for the second quarter.

Halliburton's third-quarter revenue reached three billion dollars, down 7% decrease from the second quarter.

International revenue fell 7% sequentially to two billion dollars in the third quarter, while revenue in North America fell by 6% to 984 million dollars.

"The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing," the group said in a statement.

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