Baker Hughes Reports Strong Q2 Results, Citing Energy Security and AI Demand
Baker Hughes (NASDAQ:BKR) reported second-quarter results that exceeded Wall Street expectations with adjusted earnings of $0.64 per share and revenue of $6.74 billion. CEO Lorenzo Simonelli attributed the strong performance to rising demand in data centers, gas infrastructure, and upstream markets driven by energy security concerns and AI-related power needs. Despite a 2% year-over-year decline in total revenue due to business divestitures, orders surged 49% to $10.5 billion for the quarter, with Industrial & Energy Technology (IET) segment orders reaching record levels at $7.09 billion. The company raised its long-term order outlook and full-year guidance, citing strong demand in power generation and LNG projects. Baker Hughes shares rose 2.36% premarket following the report as investors reacted positively to the upbeat results and forward-looking statements.
Tickers: $BKR
Topics: AI_demand energy_security orders_increase revenue_growth