Baker Hughes Company Q1 Profit Increases, beats estimates

(RTTNews) - Baker Hughes Company (BKR) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $576 million, or $0.57 per share. This compares with $72 million, or $0.08 per share, in last year's first quarter.

Excluding items, Baker Hughes Company reported adjusted earnings of $289 million or $0.28 per share for the period.

Analysts on average had expected the company to earn $0.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.2% to $5.72 billion from $4.84 billion last year.

Baker Hughes Company earnings at a glance (GAAP) :

-Earnings (Q1): $576 Mln. vs. $72 Mln. last year. -EPS (Q1): $0.57 vs. $0.08 last year. -Analyst Estimate: $0.26 -Revenue (Q1): $5.72 Bln vs. $4.84 Bln last year.