BP Posts Lower-Than-Expected Profits
BP posted lower-than-expected profits for the fourth quarter on Tuesday, despite a rise in global oil prices, and held its dividend unchanged.
BP (BP) - Get Report shares fell to the bottom of the FTSE 100 on Tuesday after the oil major posted lower-than-expected profits in the fourth quarter, despite a rise in global oil prices, and held its dividend unchanged.
BP said earnings came in at 13 cents per share, firmly higher than the 6 cents recorded in the final three months of 2015 but shy of the 16-cent total forecast by analysts. Revenue for the period was just over $51 billion, the company said, up 3.7% from the same period a year ago but short of the consensus estimate of $54.7 billion. The quarterly dividend will remain unchanged at 10 cents per share, the company said.
