Halliburton Co. (NYSE: HAL) reported Monday that the oilfield company’s fourth-quarter profit fell 48 percent, citing a drop in demand and crude prices.
The Houston company reported net income of $243 million, or 27 cents per share, for the fourth quarter. That compares with income of $468 million, or 52 cents per share, for the final three months of 2008. Revenue fell 25 percent, to $3.69 billion.
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Analysts polled by Thomson Reuters expected earnings of 27 cents per share on revenue of $3.63 billion.
For the full year, Halliburton posted net income of $1.15 billion, or $1.27 per share, compared to $2.22 billion, or $2.45 per share for 2008.
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