UPDATE 1-Baker Hughes forecasts Q1 revenue below market expectations
(Adds shares in paragraph 3, details on outlook throughout)
Jan 24 (Reuters) - U.S. oilfield technology firm Baker Hughes on Wednesday forecast a first-quarter revenue range, the midpoint of which was below analysts' estimates.
The company said it expects revenue between $6.10 billion and $6.60 billion. Analysts, on an average, expect $6.51 billion, according LSEG.
Shares of the company fell 1.8% in premarket trading.
Baker Hughes expects current-quarter revenue from its oil field services and equipment segment to be between $3.70 billion and $3.95 billion.
The segment reported revenue of $3.95 billion in the fourth quarter.
Meanwhile, revenue from the industrial and energy technology unit is expected to be sequentially down and in the range of $2.40 billion to $2.65 billion.
The company had posted an adjusted profit that beat market estimates on Tuesday. (Reporting by Sourasis Bose in Bengaluru; Editing by Shailesh Kuber)
