Revenue from international operations
In 2Q16, Baker Hughes’s (BHI) revenue share generated from outside North America increased. BHI’s international revenues rose to 72% of its total revenues in 2Q16 from 62% in 2Q15. Schlumberger’s (SLB) international revenues by the end of 2Q16 rose to ~76% of its total revenues compared to 73% a year ago. Read more about Schlumberger in Market Realist’s Do Schlumberger’s Fundamentals Suggest Investment Opportunities?
International rig counts
By August 31, international rig counts fell 18% from a year ago. The fall was less than the US rig count decrease, which nearly halved in the past year until the week ending September 2. BHI is 0.10% of the iShares Dow Jones US ETF (IYY). The energy sector makes up 6.6% of IYY.
Next, we’ll discuss Baker Hughes’s revenue and earnings.