Baker Hughes (BKR) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter increased compared to the same period last year, continuing the year-over-year growth trend. Sequentially, revenue declined from the previous quarter, breaking the pattern of consecutive quarterly increases.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter increased compared to the same period last year, continuing the year-over-year growth trend. Sequentially, revenue declined from the previous quarter, breaking the pattern of consecutive quarterly increases.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.7B
Revenue reported for this quarter.
Quarter-over-quarter
-3.2%
Change from the immediately preceding quarter.
Year-over-year
+18.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$22B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $5B | -1.8% |
| Sep 30, 2022 | $5.4B | +5.4% |
| Dec 31, 2022 | $5.9B | +7.7% |
| Mar 31, 2023 | $5.7B | +18.2% |
Revenue performance
The reported revenue showed a year-over-year increase, supported by higher sales of both goods and services. On a sequential basis, revenue decreased from the prior quarter.
Quarterly comparison
Compared to the immediately preceding quarter, revenue was lower, marking a reversal of the sequential gains observed in the prior two quarters. Relative to the same quarter one year earlier, revenue was higher, reflecting continued annual expansion.
What to watch
The sequential decline following a period of growth is a key point to monitor in upcoming quarters.