Baker Hughes Company (BKR) reported its third-quarter earnings, showcasing a notable increase compared to the same period last year and surpassing analysts' expectations.
The firm recorded a net income of $766 million, or $0.77 per share, compared to $518 million, or $0.51 per share, in the previous year's third quarter.
On an adjusted basis, excluding specific items, Baker Hughes posted earnings of $666 million, equivalent to $0.67 per share.
The consensus among analysts, as gathered by Thomson Reuters, had projected earnings of $0.61 per share, with estimates generally excluding extraordinary items.
Revenue for the quarter experienced a 4.0% growth, reaching $6.908 billion from the previous year's figure of $6.641 billion.
To summarize Baker Hughes Company's performance for the quarter under GAAP:
- Earnings (Q3): $766 million, up from $518 million last year.
- Earnings per Share (EPS) (Q3): $0.77, rising from $0.51 last year.
- Revenue (Q3): $6.908 billion compared to $6.641 billion last year.
