HOUSTON (AP) - Halliburton Co. said Sunday its earnings rose 19 percent in the third quarter, as the company continues to expand its business in the Eastern Hemisphere.
The Houston-based oilfield services company reported net income of $727 million, or 79 cents a share, in the July-September period versus income of $611 million, or 58 cents a share, in the year-ago period.
The most-recent results included a favorable income tax impact valued at $133 million, or 15 cents a share.
Third-quarter revenue rose 16 percent to $3.93 billion.
Excluding the income tax gain, the results matched analysts' average earnings estimate of 64 cents on revenue of $3.87 billion, according to Thomson Financial.
In a statement, Halliburton Chairman and Chief Executive Dave Lesar said the company's capital expansions in the Eastern Hemisphere resulted in revenue growth of 29 percent versus the third quarter of last year.
He said North American revenue grew 6 percent despite the loss of two weeks of work in the Gulf of Mexico because of tropical weather and pricing declines for some services.
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