Baker Hughes narrows Q3 loss
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
However, revenue for the third quarter fell 38%