Halliburton Earnings Shoot Up 54%

Oil giant credits strong demand
By Newser Editors and Wire Services
Posted Jul 18, 2011 8:50 AM CDT
In this April 15, 2009 file photo, the Halliburton sign is shown.   (AP Photo/David Zalubowski, File)

(Newser) – Halliburton says the expansion of oil and natural gas drilling in North America helped boost company earnings by nearly 54% in the second quarter. Revenue also hit a company record for the period. The Houston oil services giant reported earnings of $739 million, or 80 cents per share today, with revenue jumping 35.2% to $5.94 billion.

The results easily beat Wall Street expectations of 73 cents per share on revenue of $5.64 billion, according to FactSet. CEO Dave Lesar says that growing energy demand around the world will continue to drive Halliburton's business.

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