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BP reports lower-than-expected Q3 earnings due to drop in energy prices

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BP,Earnings,Q3

BP reported third-quarter earnings of $3.3 billion, falling short of analysts' forecasts, as energy prices dropped compared to the previous year. The company also extended its $1.5 billion share repurchase programme. BP's net income, as measured by underlying replacement cost profit, was below the expected $4 billion.

LONDON - BP reported on Tuesday third-quarter earnings of $3.3 billion, missing analysts' forecasts, after a large drop in energy prices from a year ago, as the company extended its $1.5 billion share repurchase programme.

BP's third-quarter underlying replacement cost profit, the company's definition of net income, missed forecasts of $4 billion in a company-provided survey of analysts.

 

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