logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Boeing Company (BA) reported that its first-quarter core earnings per share increased to $3.64 from $2.17, prior year, reflecting strong performance across the company. Core operating earnings improved 35% year-over-year to $2.51 billion from $1.86 billion, previous year. GAAP earnings from operations increased 30% to $2.88 billion. Net earnings improved 57% year-over-year to $2.48 billion. Earnings per share was $4.15 compared to $2.54. Operating cash flow was $3.1 billion for the quarter. Micro-blogging site Twitter Inc. on Wednesday reported a turnaround to profit in the first quarter on strong double-digit revenue growth. This is the company's second quarterly profit. Both revenue and adjusted earnings per share beat analysts' estimates. Twitter's average monthly active users or MAU figure rose 3 percent year-over-year and also increased from the preceding quarter. Shares of Credit Suisse Group AG were gaining around 4 percent in Swiss trading after the banking giant reported Wednesday higher profit in its first quarter, despite lower net interest income. The company said it had planned 2018 to be a year of acceleration in its performance in its 12-quarter restructuring program.
RELATED NEWS
Trade BHI now with 
Follow RTT