CDN NEWS | 
US NEWS 
(Reuters) – Halliburton fell short of analysts’ estimates for third-quarter profit on Thursday, as a slowdown in drilling activity in North America weighed on demand for its oilfield services and equipment.
Producers have kept a tight lid on production in North America since the downturn in oil prices in 2020 and weak natural gas prices.
North America reported an 8.5% drop in revenue to $2.39 billion in the third quarter, from a year earlier.
Halliburton in August was hit by a cyberattack when an unauthorized third party accessed and removed data from its systems.
“We experienced a $0.02 per share impact to our adjusted earnings from lost or delayed revenue due to the August cybersecurity event and storms in the Gulf of Mexico,” said Halliburton CEO Jeff Miller.
The Houston, Texas-based firm posted an adjusted profit of 73 cents per share for the three months ended Sept. 30, missing analysts’ average estimate of 75 cents, according to data compiled by LSEG.
The company’s shares were down 1.8% at $29.95 in premarket trading.
Share This:
