BP PLC reports results for the quarter ended March 31 - Earnings Summary
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BP PLC reported adjusted earnings of 8 cents per share for the quarter ended March 31, down from 16 cents a year ago and below analysts' expectations of 10 cents. Revenue fell 4% to $46.91 billion, exceeding the expected $42.79 billion. The company reported a net income of $687 million. BP shares dropped 17% this quarter and 7.9% year-to-date. Analysts' earnings estimates have decreased by 37.8% in the last three months, with a current average rating of "hold" and a median 12-month price target of GBp445.00.
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