Baker Hughes posts $981 million loss in first quarter

HOUSTON — Oil service company Baker Hughes posted a $981 million loss in the first quarter of 2016, widening significantly from the same period a year ago, the Houston company reported Wednesday.

Revenue for the quarter came in at $2.7 billion, down $1.9 billion or 42 percent from the previous quarter of 2015. The company’s net loss grew to $981 million from $593 million in the first quarter of last year, up about 65 percent.

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