Baker Hughes hit by $10 Bn loss

摘要

Baker Hughes posted a huge impairment charge in Q1 2020, resulting in a US $10 Bn loss for the quarter on the back of low oil prices and the coro- navirus pandemic. Baker Hughes said that its orders in Q1 2020 were $5.5 Bn, down 20% sequentially and down 3% year-over-year. The company’s revenue for Q1 2020 was $5.4 Bn, down 15% sequentially and down 3% year-over-year.