Baker Hughes loss deepens in Q2

By Kasia Patel
Published: Thursday, 28 July 2016

The company reported a net loss as a fall in revenue both y-o-y and sequentially as market conditions in oil and gas are expected to either remain the same or decline further in the second half of 2016.

Oilfield services provider Baker Hughes Inc. has reported a deeper loss for the second quarter this year after revenue fell 39% year-on-year (y-o-y) and 10% sequentially to $2.4bn.

Q2 loss dropped to $912m, down from a loss of $190m in Q2 2015, as the activity and prices in oil...

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