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.
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