Oilfield services company Halliburton forecast a sharp decline in full-year revenue on Tuesday after posting a 33% fall in profit for the second quarter due to softer-than-expected demand.

Halliburton posted a net profit of $472 million, or $0.55 per share, in the second quarter of 2025, down 33% from a net income of $709 million, or $0.80 per share, in the same period a year ago. Net revenues fell 5% from $5.83 billion to $5.51 billion.