The oil company has reported earnings which were much more than the expectations and analysts believe that the company has going to prove as a strong competitor in the upcoming months.

Despite bearish expectations of analysts firms, Halliburton Company managed to fight back bringing back hope by reporting the first quarter earnings to be higher than the predictions. Analysts at Seeking Alpha think that the oil digging company is capable of much more than what is expected out of it after the quarterly results came out.

Even though Halliburton was seen reporting quite a difficult first quarter of the year, analysts are of the opinion that the company still managed to indicate that it is not going to stay on the low forever and some positive changes are expected soon. The oil services company was seen to have received total revenue for the quarter at around $7.1 billion, which shows that a decline of 7% was recorded if the previous year's first financial quarter is taken into consideration. These stats has been appreciated by the analysts as on a global level, a dip of 19% was recorded in the rig count as the shipments were cancelled due to the strong dollar and weak oil prices.

As for the operating expenses of Halliburton, a strong decline from continents like North America, Africa and Europe was recorded on the company's end which led up to 28% of downfall. The operating income was thus recorded at $700 million.

According to the Halliburton news update from the Eastern side of the world, an increment of 3% was recorded in the operating incomes department. Revenues and operating income was seen to go through a massive change in the regions of Asia and Middle East with a rise of 33% and 13% in the respective areas.

However, revenues saw a dip in Africa and North America by a significant change of 16%, with operating expenses falling downwards by 41%. In Latin America, things seemed to take a different turn with the revenues increasing by10% and OE accelerating by 22%. This, according to the analysts, is a huge positive change that the company has undergone and this is an indication that much more is expected out of the firm's activities in the upcoming quarters of 2015.

On the other hand, analysts who have previously been giving a negative view on Halliburton stock have now changed their views about the state the firm is in as much positivity is expected to come out of the path that the oil company has now taken.

In the coming months, analysts believe that soon Halliburton shares will be one of the most wanted shares of the industry as the company is working towards making its EPS better and also to generate a higher amount of revenue for the future quarters.