Halliburton beats expectations, despite decline in profits

Overall revenue up

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HOUSTON - Shares of Halliburton are up despite bad news.

Halliburton is reporting an 8 percent decline in second-quarter profits and revenue also declined in North America, but it edged out Wall Street expectations and shares were up in premarket trading.

The oilfield services reported net income of $679 million, or 73 cents per share, on Monday. A year ago, earnings were $737 million, or 79 cents per share.

Analysts had been expecting 72 cents per share, according to FactSet.

Overall revenue edged up 1 percent to $7.32 billion from $7.23 billion a year ago, also topping expectations despite an 8 percent revenue slide in North America.  Total revenue, despite the drag in North America, was an all-time best for the second quarter.

Shares of Halliburton Co. are up about 1 percent before the opening bell.

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