Halliburton Beats Estimates For 1QFY14

Discussion in 'Stock Market Forum' started by PaulSchinider, Apr 21, 2014.

  1. PaulSchinider

    PaulSchinider Well-Known Member

    Joined:
    Mar 2014
    Posts:
    170
    Likes Received:
    0
    Halliburton Company reports better-than-expected revenues and earnings for the quarter. The stock of price is up over 3.5% in the first hour of trading today due to the favorable results

    The stock price of the Halliburton Company (HAL) is up over 3.5% in the first hour of trading today, due to the favorable earnings results for the oilfield services company’s first quarter of fiscal 2014 (1QFY14; ended March 31, 2014), which it reported the opening bell today. Since the start of the year, the stock price of the Houston, Texas-based firm has increased 20%, outperforming the Market Vectors Oil Services ETF (OIH) by 13.7%.

    Analyst’s Expectations

    Halliburton reported revenues of $7.35 billion during the quarter, a 5.4% increase year-over-year (YoY). The company also beat analysts’ estimates of $7.24 billion by 1.5%. Halliburton has now beat revenue estimates for two consecutive quarters. It reported net income of $616 million, which translates to adjusted earnings per share (EPS) of $0.73, an increase of 9% YoY. It has now beat earnings estimates for 22 consecutive quarters.

     

Share This Page