Baker Hughes (BKR) Gets 16% Boost from Q2 Earnings, Dividend Declaration

We recently published 10 Stocks Surprise Wall Street with Double-Digit Gains. Baker Hughes Company (NASDAQ:BKR) is one of the biggest performers recently.

Baker Hughes surged by 15.94 percent week-on-week, finishing at $46.05 on Friday versus the $39.72 the week earlier, as investor sentiment was bolstered by its second quarter earnings performance and declaration of cash dividends to shareholders.

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.

Photo by Lukáš Lehotský on Unsplash

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

Following the performance, Baker Hughes Company (NASDAQ:BKR) said that its board of directors approved the distribution of $0.23 cash dividends to all Class A common shareholders as of August 5. The dividends are payable on August 15, 2025.