HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Tuesday reported third-quarter earnings of $411 million.
On a per-share basis, the Houston-based company said it had profit of 41 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 70 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The oilfield services company posted revenue of $8.03 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $7.76 billion.
Baker Hughes shares have risen 21% since the beginning of the year. The stock has climbed 15% 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
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
