Tax Benefits, New Contracts Send Halliburton Profits Soaring

Reuters | Anna Driver | October 22, 2007 12:50 AM

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Oil services company Halliburton Co (HAL.N) on Sunday said third-quarter net profit rose 19 percent, helped by a tax benefit, new international contracts and higher activity from its customers.

Halliburton, which earlier this year opened a headquarters in Dubai to capture contracts in faster-growing, more profitable Eastern Hemisphere markets, has been hit by pricing pressure in its largest North American market.

The company reported a net profit of $727 million, or 79 cents a share, compared with $611 million, or 58 cents a share, in the same quarter a year earlier.

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- ConcernedAboutRFuture I'm a Fan of ConcernedAboutRFuture permalink

NO!!!! You're kidding... Halliburton made a giant profit AGAIN? Get out!!!! (with Elaine shove)

Is this news to ANYONE?

Favorite Flag as abusive Posted 01:32 PM on 10/22/2007

- ohiomark I'm a Fan of ohiomark permalink

This must be Arianna's daily feeding of red meat for the moonbats. Just mention Haliburton and watch the Libs scamble for their bowls.

Favorite Flag as abusive Posted 11:02 AM on 10/22/2007

- unclebucky I'm a Fan of unclebucky permalink

Yeah.

We never hear ANYTHING about taxpayer billions that is going to a firm that pays virtually zero taxes and is now moving out of the country to completely AVOID PAYING TAXES.

This must be kinda like an Nelson Alger story for the obscenely rich and their groupies, like this troll*.

*Trolls are made of 100% Trollite(TM). (Trollite not associated with Dam dolls, wishniks or norfins.) Read all of the enclosures before abusing any troll in HuffPost.

Ugh.

--UB.

Favorite Flag as abusive Posted 12:03 PM on 10/22/2007

- Beardedfish I'm a Fan of Beardedfish permalink

From what I understand it is impossible for Hal. to avoid all taxes since they are incorporated domestically. Now moving the capital, sorry HQ, to Dubai might allow them to hide much more money, but technically they will never be able to fully avoid US taxes unless they unincorporate here and reincorporate in Dubai and then divest themselves of all assets and contracts here in the US or US territories. Both seem unlikely to me.

Favorite Flag as abusive Posted 12:19 PM on 10/22/2007

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- ohiomark I'm a Fan of ohiomark permalink

Thanks for proving my point.

Favorite Flag as abusive Posted 12:46 PM on 10/22/2007

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- princessofnowt I'm a Fan of princessofnowt permalink

laugh all the way to the bank for now, ohiomark.

But when the blackwater hits the fan, unless you're one of the 1%, with your own mercenaries surrounding your mansion (or island), you'll be in the back of the line with your own bowl.

Those in the Denial line get theirs last, right after the Didn't See It Coming line, by the way.

Favorite Flag as abusive Posted 12:48 PM on 10/22/2007

- mrcontinental I'm a Fan of mrcontinental permalink

"helped by a tax benefit"

You have GOT to be kidding.

Favorite Flag as abusive Posted 10:39 AM on 10/22/2007

- BuyRubles I'm a Fan of BuyRubles permalink

buy rubles

Favorite Flag as abusive Posted 09:45 AM on 10/22/2007

- Beardedfish I'm a Fan of Beardedfish permalink

No Yuan. Its undervalued and they Chinese know they will have to let it rise, no matter how slowly they do. By 'em now in 20 years they'll be worth a fortune.

Tax Benefits, New Contracts Send Halliburton Profits Soaring

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Tax Benefits, New Contracts Send Halliburton Profits Soaring

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