Baker Hughes narrows Q3 loss

By Kasia Patel
Published: Thursday, 27 October 2016

Despite a decline in revenue, Baker Hughes managed to reduce its loss by 44% sequentially. But the company noted that the oil and gas landscape remains challenging, with an uptick in activity in some regions offset by lower rates of operation in others.

Baker Hughes Inc. has reported an operating loss of $321m for the third quarter of 2016, representing a sequential improvement of 44%.

The sequential decrease in operating loss was attributed to the actions the company took to "right-size our operating structure".

However, revenue for the third quarter fell 38% year-on-year...

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