In today’s briefing:
- [Earnings Review] BP Surges Past Profit Estimates on Soaring Oil Prices and Robust Retail Earnings
[Earnings Review] BP Surges Past Profit Estimates on Soaring Oil Prices and Robust Retail Earnings
- BP’s operating revenue declined by 2.55% YoY, falling short of estimates by 9.78%, while underlying net profit increased by 6.45% YoY, exceeding EPS estimates by 8.75%.
- Strong performance from the Oil Production & Operations and Customers & Products segments drove underlying net profit growth.
- BP announced a 10% increase in its interim dividend to 8 cents/share and completed USD 1.75 billion in share buybacks in Q2.
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