Mubasher: Halliburton Co on Monday posted its third-quarter profits that surpassed Wall Street expectations on the back of the slight recovery in oil prices.
The oilfield services provider achieved a net profit of $361 million in the three-month period ended September, up from $6 million in the prior-year period.
The US-based company had previously announced that its net profit amounted to $28 million in Q2-17.
Net profit attributable to Halliburton rose 42 cents per share in Q3-17, versus 1 cent per share in Q3-16.
Analysts forecasted the firm to earn a profit of 37 cents per share on average in Q3-17, according to Thomson Reuters I/B/E/S.
Total revenue rose 42% to $5.44 billion in Q3-17, compared to $3.82 billion in the corresponding period of 2016.
Analysts were expecting Halliburton’s revenues at $5.43 billion in Q3-17.
