Halliburton Co reported a smaller quarterly loss from a year earlier, when the oilfield service provider recorded $2.77 billion in charges.
Net loss attributable to Halliburton narrowed to $32 million, or 4 cents per share, in the first quarter ended March 31, from $2.41 billion, or $2.81 per share, a year earlier.
The year-ago quarter included charges, mainly related to asset impairments.
The world’s No. 2 oilfield services provider said on Monday revenue rose 1.9 percent to $4.28 billion as U.S. shale producers added more rigs, buoyed by oil prices that have stabilized above $50 after a more than two-year slump. (Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)