Manufacturers

Baker Hughes: 2Q Earnings Snapshot

HOUSTON (AP) — Baker Hughes a GE company on Wednesday reported a loss of $201 million in its second quarter.

The Houston-based company said it had a loss of 31 cents per share. Losses, adjusted for non-recurring costs, were 5 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The oilfield services company posted revenue of $4.74 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $4.69 billion.

Baker Hughes shares have decreased 36% since the beginning of the year. The stock has declined 32% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BKR at https://www.zacks.com/ap/BKR

Tagged with , ,

Comment on the story

Your email address will not be published.