Texas

Baker Hughes: Fourth Quarter Earnings Report

HOUSTON (AP) _ Baker Hughes Co. (BKR) reported fourth-quarter earnings of $182 million on Monday.

The Houston-based company said its net income was 18 cents per share. Earnings adjusted for non-recurring income and expenses was 38 cents per share.

The results fell short of Wall Street’s expectations. The average estimate of nine analysts polled by Zacks Investment Research was 41 cents per share.

The oilfield service company reported $5.91 billion in revenue for the period, also falling short of Street’s forecasts. Seven analysts polled by Zacks expected $6.06 billion.

The company said its losses increased to $601 million, or 61 cents per share, for the year. Revenue was $21.16 billion.

Baker Hughes shares are up 5% year-to-date. Shares are up 14% over the past 12 months.

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This story was created by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access the Zacks BKR Exchange Report at https://www.zacks.com/ap/BKR.

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