US oilfield services giant Halliburton has posted a net profit of $656 million for the fourth quarter of 2022, up 18% from the third quarter but 23% lower than the $827 million net income reported in the same period of 2021.

Quarterly revenues of $5.6 billion were up 26% sequentially and up 4% on a yearly comparison, while full- year revenues of $20.3 billion were up 33% on 2021, Halliburton said.

Net income of $1.57 billion for 2022 was little changed from the $1.46