BP plc (ADR) (BP) Stock Pops on Q3 Earnings Beat

BP plc (ADR) (NYSE:BP) stock was up on Tuesday following an earnings beat for the third quarter of 2017.

BP plc (ADR) (BP) Stock Pops on Q3 Earnings Beat
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During the third quarter of the year, BP plc (ADR) reported earnings per share of 53 cents. This is an increase over its earnings per share of 51 cents from the same time last year. It also came in above Wall Street’s earnings per share estimate of 48 cents for the quarter and was a boon to BP stock.

BP plc (ADR) reported revenue of $60.81 billion in the third quarter of the year. The oil and gas company reported revenue of $48.04 billion in the third quarter of 2016. Analysts were estimating revenue of $49.21 billion for the third quarter of 2017.

BP plc (ADR) notes that its profit for the third quarter of the year was $1.77 billion. This is an increase over its profit of $1.62 billion reported in the same period of the year prior.

“Looking ahead, we expect fourth-quarter reported production to be higher than the third quarter reflecting the continued ramp-up of major projects and recovery from seasonal turnaround and maintenance activities,” BP plc (ADR) said in a statement from its most recent earnings report.

A quarterly dividend of 10 cents per ordinary share, or 6 cents per ADS, has also been announced by BP plc (ADR). The company will pay this dividend to holders of BP stock on Dec. 21, 2017. It plans to announce more about the dividend, including the sterling amount, on Dec. 11, 2017.

BP stock was up 2% as of Tuesday afternoon and is up 8% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


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