LONDON (Reuters) – BP reported on Tuesday a third quarter profit of $8.15 billion, which easily beat expectations, boosted by very strong natural gas trading as the company announced another $2.5 billion in share repurchases
BP’s third-quarter underlying replacement cost profit, the company’s definition of net income, compared with forecasts of a $6 billion profit in a company-provided survey of analysts.
BP made a profit of $3.3 billion a year earlier and a 14-year high profit of $8.45 billion in the second quarter of 2022.
(This story has been corrected to say that analysts forecast a $6 billion profit, not loss)
(Reporting by Ron Bousso and Shadia Nasralla; Editing by Kirsten Donovan)