July 21 (Reuters) – Shares of energy services firm Baker Hughes slipped on Wednesday after reporting second quarter results that fell short of Wall Street estimates as it shifts its business to technology and services that help customers transition to a lower carbon world.
Baker Hughes Co (BKR.N) swung to a profit from a loss a year-ago, butwas down 9% from the prior quarter and missed analysts forecasts. Earnings were hurt by $125 million in impairment and restructuring charges.
Shares slipped 1% to $19.86. Brent crude futures were up about 2% on Wednesday to $70.77 per barrel.
While oil demand has rebounded from the pandemic lows seen last year, spending on oilfield services has only inched higher as energy companies hold spending and pro…
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