BP 2Q Profit Rose Again, Beating Expectations
August 02 2022 - 2:47AM
Dow Jones News
By Jaime Llinares Taboada
BP PLC on Tuesday reported that its profits rose further in the
second quarter of the year, and increased both the dividend and the
quarterly share buyback.
The multinational energy group made an underlying replacement
cost profit of $8.45 billion for the three months ended June 30, up
from $6.25 billion in the first quarter. This beat market
expectations of $6.79 billion--according to the consensus compiled
by the company and averaged from 28 brokers.
Net income was $9.26 billion compared with a net loss of $20.38
billion in the first quarter.
BP raised the dividend to 6.006 cents a share from 5.460 cents,
and set out a share buyback of $3.5 billion to be completed by its
third-quarter results.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
August 02, 2022 02:32 ET (06:32 GMT)
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