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 coronavirus pandemic. Baker Hughes said that its orders in Q1 2020 were $5.5 Bn, down 20% sequentially and down 3% year-over-year. The com- pany’s revenue for Q1 2020 was $5.4 Bn, down 15% sequen- tially and down 3% year-over-year. Baker Hughes’ operating loss for Q1 2020 was $16.06 Bn, compared to a profit of $176m in Q1 2019. The company’s net loss in Q1 2020 was $10.2 Bn, compared to a profit of $32m in Q1 2019.