January 24, 2018 / 11:57 AM / 9 months ago

Baker Hughes posts loss as costs surge

Jan 24 (Reuters) - Oilfield services company Baker Hughes posted a fourth-quarter loss on Wednesday as expenses surged.

The GE unit reported a net loss of $82 million in the three months ended Dec. 31, compared with a profit of $147 million a year earlier.

On a per-share basis, Baker Hughes posted a loss of 7 cents in the reported quarter.

Total expenses rose 81 percent to $5.86 billion. Revenue was up 64 percent to $5.76 billion. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)

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