BP reports profit below consensus forecasts

Net result dips below market expectations for British energy giant.

BY MARKETWIRE, TRANSLATED BY SIMON ØST VEJBÆK

Energy major BP reports a fourth quarter net result lower than analysts had predicted, show the supermajor’s financial statement Tuesday, according to Bloomberg News.

BP’s adjusted operating earnings before interests, taxes and amortizations landed at USD 9.32bn against the analyst estimate of USD 9.26bn.

However, adjusted net income of USD 4.81bn missed the average expectations of USD 5.11bn.

Operating cash flows totaling USD 13.57bn outperformed estimates of USD 9.8bn.

BP plans on carrying out an additional equity buy-back program worth USD 2.75bn.

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