Baker Hughes Company (BKR) reported an impressive increase in earnings for the fourth quarter, surpassing analysts' expectations. The company posted earnings of $1.179 billion, equating to $1.18 per share, significantly higher than the $439 million, or $0.43 per share, recorded in the same quarter the previous year.
On an adjusted basis, excluding certain items, Baker Hughes reported earnings of $694 million or $0.70 per share for the quarter, outperforming the average analyst forecast of $0.63 per share, with analysts' predictions typically excluding special items.
Revenue for the quarter reached $7.364 billion, marking a 7.7% rise from $6.835 billion a year earlier.
Summary of Baker Hughes Company's GAAP Results:
- Earnings: $1.179 billion compared to $439 million the previous year.
- Earnings Per Share (EPS): $1.18 versus $0.43 in the prior year.
- Revenue: $7.364 billion up from last year's $6.835 billion.
