Baker Hughes reports $10B net loss due to massive impairment

Houston-based Baker Hughes Co. (NYSE: BKR) recently disclosed that it would be taking a $15 billion goodwill impairment in its first-quarter results.

Now, that $14.77 billion impairment plus restructuring, separation and other charges has led Baker Hughes to report a net loss of $10.21 billion, or $15.64 per diluted share, according to an April 22 press release.

When excluding those impairments and other charges, the oil field services company’s adjusted net income was $70 million, or 11 cents…


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