Baker Hughes: Q4 Earnings Snapshot

HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Tuesday reported fourth-quarter net income of $439 million.

The Houston-based company said it had profit of 43 cents per share. Earnings, adjusted for one-time gains and costs, came to 51 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The oilfield services company posted revenue of $6.84 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $6.91 billion.

For the year, the company reported net income of $1.94 billion, or $1.91 per share, swinging to a profit in the period. Revenue was reported as $25.51 billion.

Baker Hughes shares have dropped roughly 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.53, an increase of 3% 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