Halliburton said today its second-quarter net income more than doubled to $1.5 billion on the back of a $933 million gain from the separation of former subsidiary KBR.
The result for the April-June period, which amounted to $1.62 per share, compared with income of $591 million, or 55 cents a share, in the year-ago period.
Revenue in the quarter rose 20 per cent to $3.7 billion from $3.1 billion a year ago. The oilfield services conglomerate said sales rose worldwide.
Excluding the gain from the KBR split, Halliburton said income from operations in the quarter was $595 million, or 63 cents a share, up from $498 million, or 47 cents a share, in the second quarter of 2006.
Shares jumped $1.34, or 3.66 per cent, to $37.91 at the open of trading today.
Halliburton, once led by Vice President Dick Cheney, split from KBR, the military contractor and engineering company, in April. Halliburton has said the separation allows it to focus on providing services and equipment to companies working in global oilfields.