- NEW YORK: Halliburton Co.
- says its fourth-quarter income more than doubled as the oil services company benefited from an increase in drilling activity around the globe.
The Houston company on Monday reported net income of $605 million, or 66 cents per share, for the three-month period that ended Dec. 31. That compares with $243 million, or 27 cents per share, a year earlier. Revenue increased 40 percent to $5.2 billion.
The results included a charge of 2 cents per share related to an indemnity payment on behalf of KBR for a settlement Halliburton reached with Nigeria. KBR was spun off from Halliburton in 2007.
Analysts surveyed by FactSet had expected earnings of 63 cents per share on revenue of $4.9 billion.