Baker Hughes (BKR) Revenue — Quarter Ended Mar 31, 2024
Revenue for the latest quarter declined compared to the immediately preceding period. However, it rose versus the same period one year earlier.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the latest quarter declined compared to the immediately preceding period. However, it rose versus the same period one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.4B
Revenue reported for this quarter.
Quarter-over-quarter
-6.1%
Change from the immediately preceding quarter.
Year-over-year
+12.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$26.2B
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, 2023 | $6.3B | +25.1% |
| Sep 30, 2023 | $6.6B | +23.7% |
| Dec 31, 2023 | $6.8B | +15.7% |
| Mar 31, 2024 | $6.4B | +12.3% |
Revenue performance
Total revenue was lower than the previous quarter, reflecting a sequential contraction. Year-over-year growth remained positive, indicating ongoing expansion.
Quarterly comparison
Sequentially, revenue decreased, marking a reversal from the prior period's growth. On an annual basis, revenue continued to show an increase.
What to watch
The sequential decline warrants attention as it may indicate a potential softening in demand.