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Baker Hughes: 3Q Earnings Snapshot

·1-min read

HOUSTON (AP) _ Baker Hughes a GE company (BKR) on Wednesday reported a third-quarter loss of $170 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Houston-based company said it had a loss of 25 cents. Earnings, adjusted for one-time gains and costs, were 4 cents per share.

The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 4 cents per share.

The oilfield services company posted revenue of $5.05 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $4.79 billion.

Baker Hughes shares have decreased 47% since the beginning of the year. The stock has decreased 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BKR at https://www.zacks.com/ap/BKR