Halliburton Company (NYSE:HAL) stock was up today following the release of its earnings report for the fourth quarter of 2017.

During the fourth quarter of the year, Halliburton Company reported earnings per share of 53 cents. This is an major increase over its earnings per share of 4 cents from the same time last year. It was also a boon to HAL stock by beating out Wall Street’s earnings per share estimate of 46 cents for the period.

Net income reported by Halliburton Company for the fourth quarter of the year came in at $462 million. The company’s net income from the fourth quarter of the previous year was $35 million.

Halliburton Company reported revenue of $5.94 billion in the fourth quarter of 2017. This is up from its revenue of $4.02 billion that was reported in the same period of the year prior. It was also good news for HAL stock by coming in above analysts’ revenue estimate of $5.63 billion for the quarter.

Another benefit for HAL stock from the company’s fourth quarter earnings report was it outlook for 2018. Halliburton Company President and CEO Jeff Miller stated that the company’s strong performance in the fourth quarter of 2017 has him optimistic for 2018. He is expecting normalized margins for North America during the year.

“Commodity prices support increasing activity in North America and I am encouraged by the increase in tender activity and the positive discussions we are having with our international customers,” Miller said in a statement.

HAL stock was up 4% as of noon Monday.

As of this writing, William White did not hold a position in any of the aforementioned securities.