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BP earnings: Q2 net profit comes in at $2.8 billion, vs $2.5 billion expected

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Energy giant BP reported better-than-expected second-quarter profits on Tuesday.

A BP company logo is displayed on a fuel pump on the forecourt of a gas station operated by BP Plc in London, U.K.reported better-than-expected second-quarter profits on Tuesday.

U.K.-based BP posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $2.8 billion, versus $2.5 billion expected in a Reuters poll. That compared with a profit of $2.8 billion over the same period a year earlier and $2.4 billion in the first three months of 2019.reported an almost 20% fall in second-quarter adjusted net profit last week.

International benchmark Brent crude has fallen more than 13% since the end of the first quarter, with U.S. West Texas Intermediate down 12% over the same period. Many of the world's other major oil and gas companies are scheduled to report their latest quarterly figures over the coming days.

 

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