HOUSTON (AP) — Halliburton's second-quarter profit dropped as it dealt with some charges tied to the oil market slowdown. But the company's adjusted results easily topped analysts' estimates.
Its stock climbed more than 3 percent in Monday premarket trading.
Halliburton, a provider of drilling services to oil and gas operators, earned $54 million, or 6 cents per share, for the period ended June 30. A year earlier the Houston company earned $774 million, or 91 cents per share.
Halliburton said that the current quarter included charges of 30 cents per share tied primarily to severance costs and asset write-offs that were mostly the result of the recent downturn in the energy market.
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