Energy tech firm posts $0.64 non-GAAP EPS, beating expectations by $0.15 amid 2.4% annual revenue decline.
Baker Hughes reported second-quarter non-GAAP earnings per share of $0.64, exceeding estimates by $0.15. Revenue reached $6.74 billion, down 2.4% year-over-year but $230 million above forecasts.
The company’s adjusted EBITDA rose to $1.231 billion, a 6% increase quarter-over-quarter and 2% higher year-over-year. Prior-year revenue stood at $6.90 billion, with consensus estimates at $6.51 billion for the quarter.
Shares showed muted movement in after-hours trading as investors digested the mixed revenue trend against stronger profitability metrics.