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Business, Stocks

“BP Earnings Fall 65% With Oil Major’s Surplus Cash Turning Negative”

“…But BP stock rose Tuesday following results, helped by a 10% dividend hike and buyback. Shares flirted with a possible early entry with crude oil prices on the rebound. CVX and XOM reported on Friday that second-quarter sales fell around 30% with profits sinking 50% compared to a year ago…

Estimates: Analysts expected BP earnings to total $1.21 per share in Q2, down 54% vs. last year, with revenue down 20% to $54.48 billion.

Results: BP earnings came in at 89 cents a share, down 65% vs. a year earlier. Revenue slumped 29% to $48.54 billion…”

https://www.investors.com/news/bp-stock-bp-earnings-oil-prices-above-80/?src=A00220

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