Halliburton profit falls on slowdown in U.S. drilling


Halliburton Co , the world's second-largest oilfield services company, reported a 12 percent drop in quarterly profit because of a slowdown in U.S. drilling and higher costs.

Net income fell to $604 million, or 65 cents per share, in the third quarter from $685 million, or 74 cents per share, a year earlier. Revenue rose 9 percent to $7.1 billion. (Reporting by Braden Reddall in San Francisco and Swetha Gopinath in Bangalore; Editing by Don Sebastian)

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