BP’s earn­ings beat an­a­lyst es­ti­mates

New Straits Times - - Business -

LON­DON: BP Plc re­ported firstquar­ter earn­ings that beat an­a­lyst es­ti­mates as oil prices climbed and the com­pany cut costs. Profit ad­justed for one­time items and in­ven­tory changes rose to US$1.51 bil­lion (RM6.53 bil­lion) from US$532 mil­lion a year ear­lier, said the com­pany. That ex­ceeded the US$1.21 bil­lion av­er­age in a Bloomberg sur­vey. The earn­ings beat should ease in­vestor con­cern about BP’s abil­ity to pay the div­i­dend with­out in­creas­ing debt.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.