HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Tuesday reported third-quarter net income of $766 million.
On a per-share basis, the Houston-based company said it had profit of 77 cents. Earnings, adjusted for non-recurring gains, came to 67 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The oilfield services company posted revenue of $6.91 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $7.19 billion.
Baker Hughes shares have increased slightly more than 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.98, an increase of almost 4% in the last 12 months.
_____
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
/Palantir%20by%20rblfmr%20via%20Shutterstock.jpg)
/JPMorgan%20Chase%20%26%20Co_%20operations%20center-by%20jetcityimages%20via%20iStock.jpg)
/Palantir%20(PLTR)%20by%20Piotr%20Swat%20via%20Shutterstock.jpg)