UPDATE 1-Baker Hughes results beat estimates as N.American revenue jumps

jueves 17 de abril de 2014 07:45 GYT

(Adds details, Schlumberger results, share movement)

April 17 (Reuters) - Baker Hughes Inc, the world's third-largest oilfield services company, posted better-than-expected results as revenue in its core North American business rose nearly 7 percent, sending its shares up about 4 percent in premarket trading.

Net income attributable to Baker Hughes rose to $328 million, or 74 cents per share, in the first quarter ended March 31 from $267 million, or 60 cents per share, a year earlier.

On an adjusted basis, the company earned 84 cents per share.

Revenue rose nearly 10 percent to $5.73 billion. Revenue in North America rose to $2.78 billion.

Revenue from the Middle East and Asia Pacific jumped 24 percent to $1.11 billion.

North America margins improved by 200 basis points on an adjusted profit, despite a drop in well count caused by severe winter weather in the Rockies and northeast United States.

Analysts on average had expected earnings of 78 cents on revenue of $5.71 billion, according to Thomson Reuters I/B/E/S.

Baker Hughes' Latin America revenue fell 10 percent to $530 million.   Continuación...