Do you actually understand the difference between revenues and earnings?
Halliburton has not “earned” $9.1 billion. They actually lost money in 2004, 2003 and 2002. They finally earned a profit during the first quarter of this year, generating revenues of $4.938 billion and earnings of $365 million. Their revenues were actually down from the $5.519 billion that they recognized during the first quarter of last year when they lost $65 million.
sec.gov
For the three years ending December 31, 2004, HAL generated revenues of $20.466 billion, $16.271 billion, and $12.572 billion, respectively. For those three years, they recognized losses of $979 million, $820 million, and $998 million, respectively.
sec.gov
As of March 31, 2005, their net worth was only $4.338 billion.
To the best of my knowledge, you are the only person on SI who has actually profited from Halliburton. |
