HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Tuesday reported first-quarter net income of $402 million.
On a per-share basis, the Houston-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs, came to 51 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The oilfield services company posted revenue of $6.43 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $6.51 billion.
Baker Hughes shares have declined 6.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.36, an increase of 18% 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
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