Halliburton's Net Income Increases 22%

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Halliburton's 3Q Income Rises 22 Percent [AP]

Summary: Halliburton reported a 22% rise in net income, beating Wall Street estimates. The increase, which was attributed to solid performance in its energy services group and an uneventful hurricane season, went to 58 cents per share, exceeding anaylsts' projections of 54 cents per share. The company's construction and engineering unit was responsible for a $1.2 billion in revenue from its work in Iraq. Halliburton reported $611 million, or 58 cents per share compared to $499 million, or 48 cents a share last year.
Related links: The Rise and Fall of Oil: Roach Motel Theory • Oil Economics in a Nutshell
Potentially impacted stocks and ETFs: Halliburton (HAL), • Competitors: Schlumberger (SLB), Baker Hughes Inc. (BHI), BJ Services (BJ)

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