Baker Hughes: Q1 Earnings Snapshot
HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Wednesday reported first-quarter profit of $576 million.
On a per-share basis, the Houston-based company said it had profit of 57 cents. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The oilfield services company posted revenue of $5.72 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $5.51 billion.
Baker Hughes shares have fallen slightly since the beginning of the year. The stock has fallen 21% in the last 12 months.
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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