The Wall Street Journal-20080129-Earnings Digest Brief -- Energy- Halliburton Co-

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Earnings Digest Brief -- Energy: Halliburton Co.

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Oil-field-services provider Halliburton Co. said its fourth-quarter profit rose 4.9%, helped by growing business in the Eastern Hemisphere, where it is placing greater resources. Houston-based Halliburton has been adding people and equipment to the Middle East and elsewhere, a shift it said helped fourth-quarter sales grow 27% in that part of the world from a year earlier. Like rival Schlumberger Ltd., Halliburton said results were squeezed by higher costs and lower pricing in North America, a trend that could continue in coming months. "Our international growth is providing the strength to offset the challenging North American market, with over 55% of our fourth- quarter revenue now coming from outside of North America," it said. Its Gulf Coast operations saw some recovery as North American revenue edged up 1% from the previous quarter.