Halliburton Loss Grows as It Takes Baker Hughes Deal Charges

Halliburton Co.’s first-quarter loss widened as customers slashed budgets in half and the company took charges related to the $28 billion merger with Baker Hughes Inc. that was called off Sunday in the face of stiff resistance from regulators in the U.S. and Europe over antitrust concerns.

The world’s largest provider of fracking services reported a loss of $2.4 billion, or $2.81 a share, deeper than a loss of $643 million, or 76 cents, a year earlier, according to a statement Tuesday. Excluding certain items, profit was 7 cents a share, higher than the 4-cent average of 36 analysts’ estimates compiled by Bloomberg. The world’s largest provider of fracking services eliminated 6,000 more jobs in the quarter to reduce costs, according to a statement April 22.

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