Adjusted net income rose to $8.15 billion (€8.22 billion) in July-September, as the group announced Tuesday in London. This was much more than analysts expected on average. A year ago, the group reported adjusted earnings of $3.3 billion.
As in the previous quarter, BP plans to pay dividends of just over 6 US cents per share. The company also plans to buy back its own shares for $2.5 billion. This represents a total of $8.5 billion in share repurchases for the current year.
BP’s strong result is in line with the number of competitors such as ExxonMobil, Totalenergies and Chevron. They all made good money on high gas and oil prices, which rose sharply as a result of the Russian invasion of Ukraine.
While the strong development brings a chance for investors, it also brings dissatisfaction with politicians who are grappling with the economic damage caused by rising inflation and high interest rates. London-based company BP is already affected by additional taxes in its home country.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
