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UPDATE 2-Halliburton sees distinction expansion on softened margins in N.America

UPDATE 2-Halliburton sees distinction expansion on softened margins in N.America

UPDATE 2-Halliburton sees distinction expansion on softened margins in N.America

* Expects 25 pct burst in second-quarter earnings

 

* First-quarter distinction $0.73 vs est $0.71

* Revenue rises 5 pct to $7.35 billion

(Adds distinction forecast, background, sum from statement)

April 21 (Reuters) – Halliburton Co, a world’s
No.2 oilfield services company, foresee a 25 percent burst in
earnings in a stream quarter, helped by a liberation in margins
in North America and expansion in abroad markets.

Halliburton’s shares were adult 0.8 percent during $61.40 in
trading before a bell on Monday after a association also
reported better-than-expected results.

The company, traditionally widespread in a United States,
has been creation a large pull into general markets to combat
weakness in North America.

“Our plan is operative good and we intend to stay the
course,” Chief Executive Dave Lesar pronounced in a statement.

Analysts pronounced a foresee 25 percent expansion in
second-quarter distinction finale Jun would interpret to 91 cents
per share, in line with a normal estimate.

Drilling activity in North America has depressed due to weak
natural gas prices, heightening foe among oilfield
services providers for a smaller series of contracts.

Halliburton pronounced it expects margins in North America to
expand over a year due to increasing activity opposite a region
in a second half of a year and service-intensive drilling in
the United States.

Rivals Schlumberger Ltd and Baker Hughes Inc
also spoke of softened markets in North America, after posting
better-than-expected quarterly increase on Thursday.

Lower prices for vigour pumping services, aloft logistics
costs and disruptions in drilling due to oppressive continue weighed
on Halliburton’s operations in North America in a first
quarter finished Mar 31.

Robust activity in abroad oilfields helped a company
offset debility in North America as good as in Latin America.

Revenue and handling income increasing 13 percent in the
Middle East and Asia segment in a initial quarter.

Revenue in Europe, Africa and a Commonwealth of
Independent States (CIS) rose 9 percent, while handling income
jumped 21 percent.

Revenue fell 9 percent in Latin America, while operating
income declined 8 percent due to reduced drilling activity in
Brazil and Mexico.

The association pronounced it approaching full-year income and operating
income from a segment to be in line with 2013 levels.

Net income attributable to Halliburton was $622 million, or
73 cents per share, in a initial quarter, compared with a loss
of $18 million, or 2 cents per share, a year earlier.

Analysts on normal had approaching gain of 71 cents per
share, according to Thomson Reuters I/B/E/S.

The year progressing entertain enclosed a pre-tax assign of $1
billion associated to a Gulf of Mexico brief in 2010.

Halliburton was a executive for BP Plc, owners of the
well that blew out causing a misfortune offshore oil brief in the
United States.

Revenue rose about 5 percent to $7.35 billion, beating
analysts’ normal guess of $7.24 billion.

Halliburton’s batch gained 20 percent this year adult to
Thursday’s close.

(Reporting by Swetha Gopinath in Bangalore; Editing by Sriraj
Kalluvila)

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