logo
Share SHARE
FONT-SIZE Plus   Neg

Baker Hughes Q1 Profit Down - Quick Facts

Oil services provider Baker Hughes Inc. (BHI) reported a slight decline in its first-quarter 2012 net income attributable to the company to $379 million or $0.86 per share from $381 million or $0.87 per share last year. On average, 29 analysts polled by Thomson Reuters expected earnings per share of $0.80 for the quarter. Analysts' estimates typically exclude one-time items.

Revenue for the 2012 first quarter was $5.36 billion, up 18% from $4.53 billion a year ago, while 20 analysts estimated revenues of $5.22 billion for the quarter.

The company noted, "We expect to realize significant benefits from these improvements in the second half of 2012; however, it is clear that the overall market is experiencing pricing pressure that is likely to extend throughout 2012."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Tesla's next electric car Model 3 is aimed at the masses with a price tag that could go below $30,000. Tesla CEO Elon Musk, during an earnings call, confirmed that the Model 3 will start selling for "around $35k," and reservations will start from March 31 in Tesla stores and online on April 1 for... Advanced Disposal Services Inc. joins the growing list of companies to postpone their initial public offering amid the volatility in stock markets. Breakfast and snack food giant Kellogg Co. on Thursday reported a loss for the fourth quarter that narrowed from last year as lower revenues were more than offset by a decline in costs and expenses. Adjusted earnings per share for the quarter topped analysts' estimates, while revenue fell short of expectations. Looking ahead, the company affirmed its financial outlook for fiscal 2016.
comments powered by Disqus
RELATED NEWS
Trade BHI now with 
Follow RTT