HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Thursday reported third-quarter earnings of $609 million.
The Houston-based company said it had profit of 61 cents per share. Earnings, adjusted for non-recurring costs, came to 68 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The oilfield services company posted revenue of $7.01 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $6.83 billion.
Baker Hughes shares have increased 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $48.89, a rise of 32% in the last 12 months.
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