UPDATE 1-Baker Hughes revenue misses on lower demand for oilfield equipment

(Adds shares, segment revenue)

July 20 (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 https://in.reuters.com/article/ge-divestiture/ge-to-spin-off-healthcare-unit-div e s t - b a k e r - h u g h e s - s t a k e - i d I N K B N 1 J M 1 2 9 ? f e e d T y p e = R S S & f e e d N a m e = b u s i n e s s N e w s 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. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)