BP’s third quarter profit beats forecasts, lifted by energy prices

Tue Nov 02 2021
Mark Cooper (3172 articles)
BP’s third quarter profit beats forecasts, lifted by energy prices

BP  reported on Tuesday a sharp rise in third quarter profit, lifted by stronger oil and natural gas prices that have soared this year as economies recover from the pandemic.

BP’s underlying replacement cost profit, the company’s definition of net earnings, reached $3.32 billion in the third quarter, exceeding analysts’ expectations for $3.06 billion.

That compares with $2.8 billion in profit in the second quarter and $86 million a year earlier, when energy demand and prices collapsed due to the coronavirus epidemic.

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Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.