Reported about 8 hours ago
Baker Hughes reported a fourth-quarter profit that exceeded Wall Street projections, primarily driven by strong demand for natural gas technology, which mitigated declines in drilling gear sales in North America. Despite a 5% drop in revenue from oilfield services in North America, the company's gas technology sector saw a remarkable 44% increase in orders, leading to a revenue boost in its industrial and energy technology segment. The firm posted an adjusted profit of 70 cents per share, surpassing analysts' expectations of 63 cents.
Source: YAHOO