LONDON (AP) — LONDON (AP) — BP PLC (BP) on Tuesday reported first-quarter profit of $687 million.
The London-based company said it had net income of 26 cents per share. Earnings, adjusted for non-recurring costs, came to 53 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The oil and gas company posted revenue of $47.88 billion in the period.
BP shares have dropped 1.5% since the beginning of the year. The stock has dropped 26% in the last 12 months.
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