Halliburton Earnings Increase By 54% In Second Quarter

Halliburton earnings increased by 54% in the second quarter 2011 in large part due to the expansion of oil and natural gas drilling in North America.

According to company officials, revenue reached record levels for the period while the oil services giant reports earning of $739 million, equal to 80 cents per share while revenue jumped 35.2% to $5.94 billion.

Results trumped Wall Street expectations which put earnings at 73 cents per share on $5.64 billion.

Company CEO Dave Lesar says the firms increases were contributed to by growing energy demand not just in the U.S. but around the world. Halliburton expects their international business to continue growth at increasing rates as world wide energy consumption demands grow.