Revenues dropped in the three month period to $2.4 billion compared to $3.9 billion in the same period last year, impacted by activity declines in the market and increasing pricing pressures.
The quarter saw the company widen its loss to $912 million compared to a loss of $190 million last year. According to Baker Hughes, the period included charges related to goodwill impairment, asset impairments, restructuring, and inventory, almost entirely offset by the merger termination fee paid to the company by Halliburton as a result of the termination of their merger agreement earlier this year.
Baker
