HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Sunday reported fourth-quarter earnings of $876 million.
On a per-share basis, the Houston-based company said it had net income of 88 cents. Earnings, adjusted for one-time gains and costs, came to 78 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The oilfield services company posted revenue of $7.39 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $7.06 billion.
For the year, the company reported profit of $2.59 billion, or $2.60 per share. Revenue was reported as $27.73 billion.
Baker Hughes shares have increased 18% since the beginning of the year. The stock has increased 18% 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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