Monday, July 25, 2011

Baker Hughes Inc. (NYSE: BHI): Q2 2011 Earnings Roundup

Baker Hughes Inc. (NYSE: BHI) reporte Monday that its second-quarter net profit more than tripled to $338 million, or 77 cents a share, from $93 million, or 23 cents a share, in the year-ago quarter. On an adjusted basis, the company earned 93 cents a share in the latest quarter. Revenue surged 41% to $4.74 billion. Analysts, on average, had expected earnings of 90 cents a share on revenue of $4.52 billion. 

Chad C. Deaton, Baker Hughes chairman and chief executive officer, said, "Our performance was solid this quarter with steady improvement of our international profit margin. As expected, the sequential profit improvement in US Land and the Gulf of Mexico nearly offset the seasonal decline in Canada.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire