Halliburton Reports Smaller Quarterly Loss

Industries Reuters

(Reuters)

Halliburton reported a smaller quarterly loss from a year earlier, when the oilfield service provider recorded $2.77 billion in charges.

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Net loss attributable to Halliburton narrowed to $32 million, or 4 cents per share, in the first quarter ended March 31, from $2.41 billion, or $2.81 per share, a year earlier.

The year-ago quarter included charges, mainly related to asset impairments.

The world's No. 2 oilfield services provider said on Monday revenue rose 1.9 percent to $4.28 billion as U.S. shale producers added more rigs, buoyed by oil prices that have stabilized above $50 after a more than two-year slump.

(Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)