July 22, 2019 / 10:57 AM / 3 months ago

Halliburton profit plunges 85% on impairment, severance charges

July 22 (Reuters) - Halliburton Co reported an 85.3% slump in quarterly profit on Monday, hurt by asset impairment and severance charge as the oilfield services provider continued to cut costs in the face of weak oil prices.

Net profit attributable to Halliburton fell to $75 million, or 9 cents per share, in the second quarter ended June 30, from $511 million, or 58 cents per share, a year earlier.

Revenue fell to $5.93 billion from $6.15 billion in the quarter. (Reporting by Nishara Karuvalli Pathikkal and Arathy S Nair in Bengaluru; Editing by Arun Koyyur)

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