Halliburton 2Q profit rises 20 percent, revenue increases 10 percent

Markets Associated Press

Halliburton Co. (HAL) said Monday that its second-quarter earnings rose 20 percent.

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The Houston-based company said earnings increased to $774 million, or 91 cents per share, from $644 million, or 69 cents per share, a year ago.

The average per-share estimate of analysts surveyed by Zacks Investment Research was for a profit of 92 cents.

Revenue climbed 10 percent to $8.05 billion from $7.32 billion, beating Wall Street's forecast of $7.88 billion.

Halliburton shares have climbed $20.18, or 40 percent, to $70.93 since the beginning of the year, while the Standard & Poor's 500 index has risen 7 percent. The stock has increased $25.10, or 55 percent, in the last 12 months.