Halliburton profit up 20% on higher U.S. drilling activity

Halliburton Co., the world's No.2 oilfield services provider, reported a better-than-expected 10 percent rise in quarterly revenue, signaling an industry-wide recovery in the region after a two-year slump.

According to Reuters, net income attributable to Halliburton in the quarter rose 20 percent to $774 million, in line with Wall Street's expectations.

Revenue rose 10 percent to $8.05 billion.

Read more from Reuters.