The oilfield equipment and services provider reported an adjusted loss of $50 million, or $0.07 per share, in the quarter ending Dec. 31. Analysts had been looking for adjusted earnings of $0.17 per share.
The company's capital outlay cuts of $800 million are the steepest by a major energy company so far. Halliburton will reduce other costs by about $1 billion. It has laid off hundreds and furloughed thousands of workers.
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