HOUSTON (AP) — Halliburton on Friday reported a 26 percent decline in fourth-quarter net income, hit by costs from the Deepwater Horizon disaster, acquisitions and a seasonal slowdown in North America. But the adjusted results beat Wall Street expectations.
The oilfield services company earned $669 million, or 72 cents per share. That's down from $906 million, or 98 cents per share, a year ago.
Removing one-time charges and gains, earnings from continuing operations were 67 cents per share.
Revenue increased 3 percent to $7.29 billion from $7.06 billion, bolstered by international growth.
Analysts expected earnings of 61 cents per share on revenue of $7.06 billion.
Halliburton Co. said that it expects 2013's North American rig count will be down slightly from a year ago.
Among other earnings reports Friday:
— Procter & Gamble said its fiscal second quarter net income more than doubled and is boosting its profit outlook as the maker of Tide and Pampers takes back market share.
For the October-through-December quarter, the world's largest consumer products maker earned $4.06 billion, or $1.39 per share, up from $1.69 billion, or 57 cents per share, in the same quarter last year.
Excluding items, it earned $1.22 per share. Revenue increased 2 percent to $22.18 billion.
The Cincinnati-based company says it now expects fiscal 2013 earnings of $3.97 to $4.07 per share. Analysts expect $3.97.
— Kia Motors Corp. said Friday its fourth-quarter operating profit was halved as the won's rise erased overseas earnings and production was disrupted by a strike.
South Korea's second-largest car maker said its October-December operating income plunged 51 percent from a year earlier to 404.3 billion won ($376.4 million).
Revenue rose 3 percent to 11.3 trillion won. Net profit, which included accounting gains from stakes in affiliate companies, fell 7 percent to 737.5 billion won.
Both operating income and net income were below market expectations. Shares of Kia closed 4.9 percent lower in Seoul after the company issued its earnings report.
Kia Motors blamed the lower profit on the strong won and a strike in the third quarter that interrupted vehicle production.
— Samsung Electronics Co. said quarterly profit soared 76 percent, boosted by the popularity of its Galaxy smartphones, which outsold the iPhone for a fourth straight quarter.
But the company said Friday that it expects earnings to decline during the current quarter because of seasonally low demand for consumer electronics. It is also leaving its 2013 capital expenditure at the same level as last year at 23 trillion won ($21.5 billion), underlining uncertainty about the global economy and declining demand for personal computers.
The strong South Korean won is also becoming a negative for Samsung. It expects more than 3 trillion won will be shaved from its 2013 operating profit due to the stronger local currency. Samsung's shares fell as much as 3 percent after earnings release.
Net profit for the final quarter of 2012 totaled 7.04 trillion won ($6.6 billion), a 76 percent surge from 4.01 trillion won a year earlier. Analysts had expected 6.95 trillion won in net profit, according to financial information provider FactSet. Sales rose 19 percent over a year earlier to 56.06 trillion won and operating income jumped 89 percent to 8.84 trillion won.