Halliburton Company (HAL)

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$HAL Halliburton tops estimates on strong international demand

Halliburton (NYSE:HAL) +1.2% pre-market after Q2 earnings topped analyst expectations, as higher international demand for its oilfield services offset weakness in its North American market.

HAL's Q2 revenue from international markets jumped 12.5% Y/Y to $2.6B, while revenue from North America, its largest market, fell 13.2% to $3.3B.
Oilfield services rival Schlumberger (NYSE:SLB) also reported rising international revenue amid continued North American weakness in its Q2 results issued on Friday.

"Momentum is building internationally and activity improvement should continue into 2020," HAL says about the international results, while on North America, the company is "successfully executing our strategy of controlling what we can control and managing our business to perform well in any market conditions."

Total Q2 company revenue of $5.9B came in 3.5% lower than the prior-year quarter, as Completion and Production revenue fell 8.6% Y/Y to $3.8B and Drilling and Evaluation revenue rose 7.2% to $2.1B.