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Baker Hughes' revenue falls 15.3 pct on lower offshore spending
April 25, 2017 / 10:41 AM / 5 months ago

Baker Hughes' revenue falls 15.3 pct on lower offshore spending

April 25 (Reuters) - Oilfield services provider Baker Hughes Inc reported a 15.3 percent fall in quarterly revenue due to lower spending by customers in the Gulf of Mexico and pricing pressure in markets outside North America.

The company, which is being acquired by General Electric, said its revenue fell to $2.26 billion from $2.67 billion a year earlier. Net loss attributable to Baker Hughes narrowed to $129 million, or 30 cents per share, in the first quarter ended March 31, from $981 million, or $2.22 per share, a year earlier.

The quarter included about $114 million in charges, compared with $280 million a year ago. (Reporting by Arathy S Nair in Bengaluru; Editing by Arun Koyyur)

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