Oilfield services giant Baker Hughes GE posted an increase in orders, revenue, and adjusted net income for the fourth quarter of 2018.
The company’s 4Q revenue came in in at $6.3 billion, up from $5.8 billion, boosted by its oilfield services business which generated $3,06 billion in revenue.
Overall, revenue was up 8 percent. Oilfield Services was up 10%, Oilfield Equipment was up 12% and Turbomachinery & Process Solutions was up 8%, partially offset by Digital Solutions down 4%.
Adjusted net income attributable to BHGE was 120 million, an increase of 85% over the fourth quarter of 2017 when it reported adjusted net income of $65 million.