The Houston-based company earlier reported its third-quarter profit rose 9 percent to $389.1 million, or $1.22 per share, on strong international growth. Revenue was up 16 percent to $2.68 billion.

The profit figure matched analysts' estimates, according to a poll by Thomson Financial. Still, the results left traders and analysts looking for more.

Mark Urness, an analyst who covers the company for Calyon Securities, said the results were "as expected but uninspiring." He expressed concern about the company's 21.8 percent operating margin and its cost projections.

"In our opinion, the company has not done as good a job as its peers in controlling costs during the industry's most vibrant expansion phase since the 1970s," Urness said in a research note. He rates the stock "Add."

Baker Hughes' earnings came in slightly below JPMorgan analyst Michael LaMotte's profit projection. He called the company's revenue figures "uninspiring as well."

"We don't expect the stock to trade out of line with the group today as ... we don't believe that there's much fast money in the stock right now," LaMotte said in a note to investors. He rates the stock "Overweight."

Baker Hughes shares fell $5.29, or 5.7 percent, to $88.28.