Oil drilling services and solutions provider, Baker Hughes Inc. (NYSE: BHI) said on Friday that income rose 22% in the fiscal third quarter as its performance in the North American segment improved. The Company said that services like drilling, completion systems, artificial lift and upstream chemical businesses bolstered revenue in the North American segment. Both earnings and revenue beat analysts’ consensus estimate, sending share up about 7.25% in regular trading hours in North America. Excluding Latin America, revenue from other geographic markets also showed some improvement. In North America revenue rose 4.1%.
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Baker Hughes Shares Surge as Q2 Profit Beats Estimates (BHI)
Shares of oil services provider Baker Hughes Incorporated (NYSE: BHI) surged on Friday after the company reported better-than-expected second-quarter profit, driven by 12% increase in revenue. BHI’s second-quarter revenue also beat Street estimates.
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