Oilfield services provider Halliburton Co. (HAL, HAL.TO, HAL.F) posted first-quarter loss from continuing operations attributable to company shareholders of $13 million, or $0.01 per share, as against a profit of $635 million, or $0.69 per share last year.
Quarterly income from continuing operations totaled $624 million, or $0.67 per share, excluding a $637 million charge, after-tax, or $0.68 per share, to increase a reserve related to the Macondo litigation, the company noted. The prior year's income from continuing operations was $826 million, or $0.89 per share, excluding a $191 million charge, after-tax, or $0.20 per share, for a reserve related to the Macondo litigation.
On average, 32 analysts polled by Thomson Reuters expected earnings per share of $0.57 for the quarter. Analysts' estimates typically exclude one-time items.
Revenues reached $6.97 billion in the first quarter, compared with $6.87 billion reported a year back, and beat consensus estimates of $6.88 billion.
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