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Failed Merger, Low Drilling Activity Gouge Halliburton's 1Q; $2.4B Loss
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Halliburton Company has reported its first quarter 2016 financials.
Key Points: Terminated merger deal with Baker Hughes Reported loss from continuing operations was $2.4 billion Increased losses due to low industry activity - Halliburton reported that income from continuing operations for the first quarter of 2016 was $64 million, or $0.07 per diluted shareHalliburton reported that income from continuing operations for the first quarter of 2016 was $64 million, or $0.07 per diluted share, excluding special items. This compares to income from continuing operations for the fourth quarter of 2015 of $270 million, or $0.31 per diluted share, excluding special items. Adjusted operating income was $225 million in the first quarter of 2016, compared to adjusted operating income of $473…
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