Baker Hughes reports smaller revenue, smaller loss in Q1

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Houston-based Baker Hughes Inc. (NYSE: BHI) saw revenue shrink somewhat in the first quarter, but the oil field services company was still able to decrease its net loss. Revenue fell about 15 percent year over year, or about 6 percent from the fourth quarter, to $2.26 billion. Analysts had predicted revenue of $2.27 billion, according to Yahoo Finance. However, Baker Hughes significantly narrowed its net loss to $129 million, or 30 cents per diluted share, in the first quarter. That’s down from…