Halliburton Posts Loss Hurt by Baker Hughes Deal Termination Fee

Reuters

July 20 (Reuters) – Halliburton Co, the world's No.2 oilfield services provider, posted a quarterly loss, compared with a year-earlier profit, hurt mainly by the $3.5 billion fee it paid for terminating a deal to buy Baker Hughes Inc.

Net loss attributable to Halliburton was $3.21 billion, or $3.73 per share, in the second quarter ended June 30, compared with a profit of $54 million, or 6 cents per share, a year earlier.

Halliburton said revenue fell 35 percent to $3.84 billion.

(Reporting by Swetha Gopinath and Arathy S Nair in Bengaluru; Editing by Savio D'Souza)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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