FX.co ★ Baker Hughes Company Q1 Profit Decreases, but beats estimates

Baker Hughes Company (BKR) has reported a decrease in profit for the first quarter compared with the same period last year, but the results surpassed market expectations.

The company posted a profit of $455 million, equivalent to $0.45 per share. This is in contrast to the $576 million, or $0.57 per share, reported in the first quarter of the previous year.

Stripping out certain one-off items, Baker Hughes Company's adjusted earnings hit $429 million, or $0.43 per share, for the given time period.

According to figures collated by Thomson Reuters, market analysts had projected, on average, that the company would make $0.40 per share. These projections normally do not include exceptional items.

Baker Hughes Company's revenue for the quarter increased by 12.2%, moving up to $6.42 billion from last year's $5.72 billion.

In summary, the key figures from Baker Hughes Company's earnings report (on a GAAP basis) are as follows:

- Earnings for Q1 stand at $455 million, down from $576 million last year.

- Earnings Per Share (EPS) for Q1 are $0.45, lower than last year's $0.57.

- Revenue for Q1 has reached $6.42 Billion, up from $5.72 Billion last year.