BP (NYSE: BP) on Tuesday increased its quarterly dividend by 10% and extended share buybacks after high oil and gas prices in the second quarter resulted in the supermajor's highest quarterly earnings in 14 years, which easily beat analyst expectations. BP reported today an underlying replacement cost profit—its preferred metric for net profit—of $8.
45 billion for the second quarter, up from $6.2 billion for the previous quarter and well above analyst estimates of $6.8 billion. The jump in Q2 earnings—the highest quarterly profit…BP Quarterly Profit Jumps To 14-Year High
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