Baker Hughes (BKR) Rallies 11.6% on 5th Day on Impressive Earnings

We recently published 10 Stocks With Eye-Popping Double-Digit Gains. Baker Hughes Company (NASDAQ:BKR) is one of the biggest performers on Wednesday.

Baker Hughes extended its winning streak to a fifth consecutive day on Wednesday, adding 11.64 percent to close at $44.68 apiece as investor sentiment was bolstered by its impressive earnings performance in the second quarter of the year.

In its earnings release, Baker Hughes Company (NASDAQ:BKR) said attributable net income increased by 21 percent to $701 million from $579 million in the same period last year, pushing its six-month attributable profit up by 6.8 percent to $1.1 billion from $1.03 billion year-on-year.

Revenues, on the other hand, dipped by 2.8 percent to $6.9 billion from $7.1 billion during the quarter, and by 1.5 percent to $13.3 billion from $13.5 billion in the six-month period.

According to Baker Hughes Company (NASDAQ:BKR), the performance reflected the benefits of structural cost improvements and continued deployment of business systems that are driving higher productivity, stronger operating leverage, and more durable earnings across the company.

Part of the strong performance is also attributed to the strong demand for energy from data centers.

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