UPDATE: Baker Hughes Q2 Profit Up 30%

Baker Hughes BHI posted a 30% surge in its second-quarter profit. Baker Hughes's quarterly net income gained to $439 million, or $1 per share, versus $338 million, or $0.77 per share, in the year-ago period. Its revenue surged 12% to $5.33 billion. However, analysts were expecting a profit of $0.77 per share on revenue of $5.27 billion. Baker Hughes shares closed at $41.75 yesterday.