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4/27/2021, 8:06 AM (Source: TeleTrader)
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BP-4.03%

464.00
Chart for: BP PLC $0.25

BP's total revenue rises 18.2% YoY to $36.5B in Q1

BP plc reported on Tuesday that its total revenues and other income amounted to $36.5 billion in the first fiscal quarter of 2021, marking an 18.2% jump compared to the same period a year ago.

Profit attributable to BP shareholders came in at $4.7 billion in the first trimester, compared to the loss of $4.4 billion in the same quarter of 2020. The company also announced that a $500 million share buyback program will be launched in the second quarter of the year.

"This quarter demonstrates what we mean by performing while transforming. With the acceleration of divestment proceeds, together with strong business performance and the recovery in the price environment, we generated strong cash flow and delivered on our net debt target around a year early," BP CEO Bernard Looney commented.

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