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Baker Hughes (BHI) Posts Wider than Expected Loss in Q1

Baker Hughes Inc. BHI is one of the major oilfield service companies in the world, providing a range of services to the global oil and gas industry. The company is a major supplier of wellbore-related products and technology services and systems. It caters to drilling, pressure pumping, formation evaluation, completion and production, and reservoir technology. It also offers consulting services to the worldwide oil and natural gas industry.

Currently, Baker Hughes has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Baker Hughes posted wider loss than the consensus. Loss per share from continuing operations (excluding special items) came in at $1.58, higher than the Zacks Consensus Estimate of 33 cents loss per share. This also came wider than the year-ago quarterly loss of seven cents per share.

Revenue: Revenues of $2,670 million came below the Zacks Consensus Estimate of $2,870 million.
        
Key Stats: Of Baker Hughes' total quarterly revenue, North America, Europe/Africa/Russia/Caspian, Middle East/Asia-Pacific and Latin America accounted for 31%, 27%, 23% and 10%, respectively. The remainder was generated by the Industrial Services segment.

Check back later for our full write up on this Baker Hughes earnings report later!

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