Baker Hughes: 4Q Earnings Snapshot
HOUSTON (AP) _ Baker Hughes a GE company (BKR) on Wednesday reported fourth-quarter net income of $48 million.
On a per-share basis, the Houston-based company said it had profit of 7 cents. Earnings, adjusted for pretax expenses, came to 27 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The oilfield services company posted revenue of $6.35 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $6.49 billion.
For the year, the company reported profit of $128 million, or 23 cents per share. Revenue was reported as $23.84 billion.
Baker Hughes shares have increased 58% since the beginning of the year. The stock has climbed 68% in the last 12 months.