UPDATE: Baker Hughes Q4 Profit Down 32%
Baker Hughes (NYSE: BHI) reported a 32% drop in its fourth-quarter earnings.
Baker Hughes' quarterly profit fell to $214 million, or $0.49 per share, from $314 million, or $0.72 per share, in the year-ago period.
Its revenue declined 1.4% to $5.22 billion. However, analysts were expecting earnings of $0.61 per share on revenue of $5.21 billion.
Its operating margin dropped to 8.3% from 10.3%.
Baker Hughes shares closed at $44.85 yesterday.
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