HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Tuesday reported first-quarter earnings of $455 million.
On a per-share basis, the Houston-based company said it had profit of 45 cents. Earnings, adjusted for non-recurring gains, were 43 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The oilfield services company posted revenue of $6.42 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $6.34 billion.
Baker Hughes shares have dropped slightly more than 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.02, a rise of slightly more than 9% 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