Halliburton Co. posted second-quarter revenue of $5.51 billion, edging past analysts’ consensus of about $5.42 billion, while adjusted earnings came in at $0.55 a share, in line with expectations. Net income fell 33% from a year earlier to $472 million as lower pricing and activity weighed on margins. North American revenue slid 9% to $2.26 billion, and international revenue declined 3% to $3.25 billion, reflecting weaker demand across drilling and completion services. Chief Executive Officer Jeff Miller said the oil-field services market “will be softer than I previously expected” and warned that full-year 2025 revenue will contract more sharply than earlier guidance. The company now anticipates North American revenue to drop by low-double-digit percentages and international revenue to shrink in the mid-single-digit range, citing reduced spending by shale producers, delayed projects in Saudi Arabia, and declining production in Mexico. Halliburton is idling or redeploying under-utilised equipment to curb costs and preserve margins. Halliburton said U.S. tariffs on Chinese goods trimmed second-quarter profit by $27 million and are likely to cut a further $35 million, or four cents a share, from third-quarter earnings. The outlook mirrors warnings from larger rival SLB and follows Baker Hughes’ results earlier in the day, underscoring a broad slowdown in oil-field activity as rig counts fall and operators plan “meaningful scheduled gaps” in drilling and completions for the second half of the year.