(Reuters) - Oilfield services provider Baker Hughes, controlled by GE, on Friday reported lower-than-expected quarterly revenue as demand for its equipment fell.
The company's shares fell 2.4 percent to $30.25 in premarket trading on Friday.
Revenue from its oilfield equipment business, which includes deepwater drilling, fell 9.4 percent to $617 million, missing analysts' estimate of $648.2 million.
GE acquired Baker Hughes in July 2017. The conglomerate is considering selling its 62.5 percent stake in the company over the next two to three years.
Baker Hughes reported adjusted net income of $41 million, or 10 cents per share, in the second quarter ended June 30.
Total revenue rose 2.4 percent to $5.55 billion.
Analysts on average had expected the company to report revenue of $5.57 billion, according to Thomson Reuters I/B/E/S.