UPDATE: BP Posts Upbeat Q3 Profit, Lifts Dividend

BP Plc BP reported upbeat third-quarter profit. BP's underlying replacement profit dropped to $3.692 billion, from $5.017 billion, in the year-ago period. However, analysts were expecting a profit of $3.170 billion. BP also lifted its quarterly dividend by 5.6% to 9.5 cents per share. BP shares closed at $43.72 yesterday.