Baker Hughes posts bigger loss due to impairment charges

Thu Jul 28, 2016 7:08am EDT
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July 28 (Reuters) - Oilfield services provider Baker Hughes Inc reported a bigger quarterly loss, hurt by impairment and restructuring charges related to writedown of assets, job cuts and contract terminations.

Net loss attributable to the company widened to $911 million, or $2.08 per share, in the second quarter ended June 30 from $188 million, or 43 cents per share, a year earlier.

Revenue fell 39.3 percent to $2.41 billion. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Sriraj Kalluvila)