LONDON, Aug 3 (Reuters) - BP said on Tuesday it will lift its dividend by 4% and ramp up share buybacks after second-quarter profits rose to $2.8 billion on the back of higher oil and gas prices, beating expectations.
BP's underlying replacement cost profit, the company's definition of net earnings, reached $2.8 billion in the second quarter, compared with analysts' expectations for a $2.15 billion profit.
That compares with $2.63 billion in profit in the first quarter of the year and a loss of $6.68 billion a year earlier when it took large non-cash charges.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments