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Baker Hughes posts Q3 profit as drilling demand returns -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A Baker Hughes sign is displayed outside the oil logistics company’s local office in Sherwood Park, near Edmonton, Alberta, Canada November 13, 2016. REUTERS/Chris Helgren

(Reuters) – Baker Hughes Co reported a quarterly profit on Wednesday compared to a year-ago loss, as crude prices recovered to pre-pandemic levels, fueling drilling activity and demand for oilfield services.

Net income stood at $8 million, or 1 cent per share, in the three months ended Sept. 30, compared to a loss of $170 million, or 25 cents per share, last year.

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