UPDATE: BP Posts Higher Q1 Profit
BP PLC (NYSE: BP) posted a surge in its first quarter.
Its replacement cost profit jumped to $16.60 billion, from $4.78 billion, in the year-ago quarter. Excluding one-time items, its profit fell 9.4% to $4.22 billion, versus estimates of $3.25 billion.
BP announced a quarterly dividend of 9 cents per share.
Its revenue climbed to $107.21 billion, from $97.42 billion.
BP shares gained 3.52% to $44.13 in pre-market trading.
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