UPDATE: Baker Hughes Reports Upbeat Q1 Results

Baker Hughes Inc BHI reported its Q1 results on Wednesday. BHI reported its Q1 net profit at $381 million, up from $129 million, in the year-earlier period. The company's revenue surged 78% to $4.53 billion. BHI's earnings per share jumped to $0.87 per share, from $0.41 per share, in the year-earlier period. However, analysts expected earnings of $0.78 per share on revenue of $4.29 billion. BHI shares rose 0.43% to close at $74.06 yesterday. Read more from Benzinga's Company news.