Earnings, Revenue Climb at BP - TheStreet

Earnings, Revenue Climb at BP

The company also raises its quarterly dividend.
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BP's

(BP) - Get Report

results benefited from higher petroleum prices in the second quarter, which lifted sales and earnings above year-ago levels, and the company raised its dividend.

Excluding items, the company earned $3.1 billion in the second quarter, up from $2.2 billion a year ago, an increase of 42%. That translates to earnings of 85 cents per American depositary share, compared with 58 cents last year.

Analysts polled by Thomson First Call were expecting earnings of 79 cents per ADS.

Revenue rose to $63.4 billion from $50.4 billion last year, BP said.

BP also raised the quarterly dividend it pays to 39 cents per ADS from 37.5 cents in the first quarter of 2003. The dividend will be paid Sept. 8 to shareholders of record Aug. 15.

Shares of BP closed

New York Stock Exchange

trading Monday at $42.02.