HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Tuesday reported second-quarter profit of $701 million.
On a per-share basis, the Houston-based company said it had net income of 71 cents. Earnings, adjusted for non-recurring gains, were 63 cents per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The oilfield services company posted revenue of $6.91 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $6.63 billion.
Baker Hughes shares have fallen slightly more than 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.02, a climb of 12% 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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