$HAL Posts Q1 Loss from Litigation Costs

“HOUSTON (AP) — Halliburton says it lost $18 million in the first quarter on litigation-related charges related to the 2010 Gulf of Mexico oil spill. But it made money if the unusual items are excluded, and beat Wall Street expectations.

The oil services company’s loss attributable to common shareholders amounted to 2 cents per share. That compares with net income of $627 million, or 68 cents per share, a year earlier.

Excluding one-time items, however, the company posted adjusted earnings of 67 cents per share. That beat the 57 cents that analysts expected…”

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