BAKU, Azerbaijan, January 25. Baker Hughes, an energy technology company that provides solutions for energy and industrial customers worldwide, has reported 23 percent year-on-year increase in revenues from operations in Europe, countries of the Commonwealth of Independent States (CIS), and Sub-Saharan Africa in the fourth quarter of 2023, Trend reports citing the company.
Its revenues totaled $707 million in Q4 2023, as compared to $577 million in the same period in 2022.
Meanwhile, $695 million worth revenues were recorded in the third quarter. As such, the company saw a 2 percent increase in revenues from the mentioned region quarter-on-quarter.
North America was the only region, which saw a decrease in revenues. Baker Hughes received $1.018 billion from this region in Q4 2023, as compared to $1.030 billion in the same period in 2022, showing a 1 percent decrease year-on-year. This is while in the third quarter of 2023, North America brought $1.064 billion in revenues. As such, the company’s revenues dropped by 4 percent quarter-on-quarter.
Latic America revenues also recorded a 18 percent surge year-on-year and a 2 percent increase quarter-on-quarter. Baker Hughes received $708 million from this region in Q4 2023.
Middle East and Asia saw a 11 percent and 2 percent increase year-on-year and quarter-on-quarter. The company’s revenues from this region stood at $1.522 billion.
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