5/3, 8:10 AM (Source: TeleTrader)
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Chart for: BP PLC $0.25

BP's total revenue up by 40% to $51.2B in Q1

British oil and gas company BP plc stated on Tuesday that its total revenues and other income rose by 40% on an annual comparison basis in the year's first quarter, to come in at $51.2 billion.

The company's diluted loss per share amounted to $1.04 as opposed to diluted earnings per share of 22.89 US cents from the first trimester of 2021. Loss attributable to BP shareholders came in at $20.4 billion in the first three-month period in 2022 from a profit of $4.7 billion recorded in the same quarter of 2021.

The loss was attributed to the firm's decision to exit its shareholding in PJSC Rosneft Oil Company over Russia's invasion of Ukraine. "But it has not changed our strategy, our financial frame, or our expectations for shareholder distributions," CEO Bernard Looney commented.

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