Publication Date:
Mon, 2011-07-25 17:16
Larger rivals Schlumberger and Halliburton both delivered better-than-expected results recently, largely driven by a surge in US activity.
Second-quarter net profit at Baker Hughes increased to $338 million, or 77 cents a share, from $93 million, or 23 cents a share, a year earlier.
Excluding items, the Houston-based company earned 93 cents a share. Revenue grew 41 percent to $4.74 billion.
Analysts had expected earnings of 91 cents, on revenue of $4.54 billion, according to Thomson Reuters I/B/E/S.
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