SAN FRANCISCO (MarketWatch) — Halliburton Co. shares dipped Friday after the firm reported almost $500 million in first-quarter earnings and more than $5 billion in revenue, as record results at its energy-services operations overcame slowing U.S. military work in Iraq.

…The majority of Halliburton’s sales were attributed to its energy-services group, which brought 35% higher revenue of $2.9 billion as oil companies around the world scramble for supplies in the face of record-high crude prices. Operating income totaled $727 million — a 42% gain.

“Our stellar results in North America are continuing to allow us to invest for the long term in the Middle East as demand for stimulation in drilling services remains robust,” said Halliburton Chairman Dave Lesar during a conference call. “We are not only adding equipment but building infrastructure as well to capitalize on this expected growth.”
marketwatch.com

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