BP plc Earnings: Here’s Why Investors are Buying Shares Now
BP plc (NYSE:BP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.98%.
BP plc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 13.16% to $1.32 in the quarter versus EPS of $1.52 in the year-earlier quarter.
Revenue: Decreased 2.68% to $94.11 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: BP plc reported adjusted EPS income of $1.32 per share. By that measure, the company beat the mean analyst estimate of $1.01. It beat the average revenue estimate of $68.54 billion.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue decreased 9.14% from $103.57 billion in the previous quarter. EPS increased 5.6% from $1.25 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.36 to a profit $1.23. For the current year, the average estimate has moved down from a profit of $5.05 to a profit of $4.80 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)