Baker Hughes Company Q1 Profit Decreases, but beats estimates

(RTTNews) - Baker Hughes Company (BKR) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $455 million, or $0.45 per share. This compares with $576 million, or $0.57 per share, in last year's first quarter.

Excluding items, Baker Hughes Company reported adjusted earnings of $429 million or $0.43 per share for the period.

Analysts on average had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.2% to $6.42 billion from $5.72 billion last year.

Baker Hughes Company earnings at a glance (GAAP) :

-Earnings (Q1): $455 Mln. vs. $576 Mln. last year. -EPS (Q1): $0.45 vs. $0.57 last year. -Revenue (Q1): $6.42 Bln vs. $5.72 Bln last year.