(Reuters) - Halliburton Co
The company also said on Monday it will boost its share repurchase program by $4.3 billion after buying $1 billion worth of its own shares in the second quarter, and leaving only $700 million authorized from its existing program set up in 2006.
Chief Executive Dave Lesar said the refreshed $5 billion program reflected growing confidence in the business outlook.
Halliburton shares rose 1.7 percent to $46.60 in premarket trading.
The company reported a decline in second-quarter profit to $679 million, or 73 cents per share, from $737 million, or 79 cents per share, a year ago. But analysts expected a profit of 72 cents per share, according to Thomson Reuters I/B/E/S. Revenue rose 1 percent to $7.3 billion.
"Relative to our primary competitors, we have delivered leading year-over-year international revenue growth for five consecutive quarters," Lesar said in a statement.
On Friday, sector leader Schlumberger Ltd
In its home market, Houston-based Halliburton said its profit margins improved despite the collapse in pricing for hydraulic fracturing services, and with oilfield activity only showing early signs of recovery.
(Reporting by Braden Reddall in San Francisco; Editing by Maureen Bavdek and Jeffrey Benkoe)
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