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HomeMarketBP smashes forecasts with $8.2 billion profit By Reuters

BP smashes forecasts with $8.2 billion profit By Reuters

© Reuters. FILE PHOTO: A view of a signage outside a BP petrol station in central London, Britain, August 2, 2022. REUTERS/Henry Nicholls
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LONDON (Reuters) – BP (NYSE:) reported on Tuesday a third quarter profit of $8.15 billion, which easily beat expectations, boosted by very strong trading as the company announced another $2.5 billion in share repurchases

BP’s third-quarter underlying replacement cost profit, the company’s definition of net income, compared with forecasts of a $6 billion loss in a company-provided survey of analysts.

BP made a profit of $3.3 billion a year earlier and a 14-year high profit of $8.45 billion in the second quarter of 2022.

Story Credit: investing.com

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