3 Hrs
Source:
Sky News
Baker Hughes Q2 profits down 3%
American energy technology company Baker Hughes announced a 3% decline in its profits during the second quarter of this year, with net earnings reaching $681 million (or $0.68 per share) compared to $701 million (or $0.71 per share) in the same period last year, despite a 49% increase in orders to $10.5 billion. Annual revenues decreased by 2% to $6.7 billion, but operating profits rose by 2% to $1.23 billion, exceeding company expectations. The company remains confident in achieving its average annual outlook, managing the current situation amid uncertainty in the Middle East.
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