Oilfield services provider Halliburton Co (NYSE:HAL) reported a 93 percent fall in quarterly profit as oil producers pummeled by a steep decline in oil prices cut drilling activity, and the company incurred about $400 million in charges.
Continue Reading Below
Profit attributable to Halliburton fell to $53 million, or 6 cents per share, in the second quarter ended June 30 from $775 million, or 91 cents per share, a year earlier.
Revenue fell 26.5 percent to $5.92 billion.
Halliburton's $35-billion takeover of fellow oilfield services company Baker Hughes Inc
(Reporting by Amrutha Gayathri in Bengaluru; Editing by Sriraj Kalluvila)