financetom
Business
financetom
/
Business
/
Baker Hughes beats quarterly profit estimates on international drilling demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Baker Hughes beats quarterly profit estimates on international drilling demand
Oct 22, 2024 2:32 PM

Oct 22 (Reuters) - U.S. oilfield technology firm Baker

Hughes ( BKR ) beat Wall Street estimates for third-quarter

profit on Tuesday, helped by sustained demand for its drilling

equipment and technology in international markets.

Exploration and drilling demand in markets such as Middle

East and Africa have helped oilfield services companies offset

some of the declines in North America.

The total rig count at the end of September increased by 7

in international markets, compared to a year earlier, led by

additions in the Middle East, according to Baker Hughes ( BKR ) data.

The Houston-based company posted adjusted profit of 67 cents

per share for the three months ended Sept. 30, compared with

average analysts' expectation of 61 cents, according to

estimates compiled by LSEG.

(Reporting by Sourasis Bose in Bengaluru; Editing by Sriraj

Kalluvila)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved