BP Raises Dividend Despite 70% Earnings Plunge

August 1, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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BP (NYSE: BP) raised its dividend even as it missed earnings estimates after reporting on Tuesday a 70% annual decline in second-quarter profit, due to lower oil and gas prices and weaker refining margins and trading business. Underlying replacement cost profit, the most closely watched metric, slumped to $2.6 billion for the second quarter, down from $5.0 billion for the first quarter and from $8.45 billion for the second quarter of 2022. BP’s earnings between April and June 2023 fell short of analyst estimates of $3.5 billion…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

BP Raises Dividend Despite 70% Earnings Plunge

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