Baker Hughes Reports Solid Q4 Growth, Weak Crude Prices Dim Outlook

Quarterly revenues grew by around 13% year-over-year to $6.64 billion owing to higher activity in North America and strong year-end product sales in international markets. Pre-tax margins also rose from around 10% in Q4 2013 to 16% driven partly by improvements in the company's pressure pumping product line. However, the company's outlook for 2015 looks challenging, as customers cut back on their upstream capital spending and push for better pricing.