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BP Profit Smashes Estimates on Eve of Giant Shale Oil Deal

© Reuters.  BP Profit Smashes Estimates on Eve of Giant Shale Oil Deal

BP (LON:BP) Plc reported a surge in profit that smashed estimates, giving the company the confidence to fully fund its $10.5 billion U.S. shale oil deal with cash.

  • Adjusted net income climbed to $3.84 billion in the third quarter from $1.87 billion a year ago. That’s the most since 2012, beating even the highest analyst estimate of $3.23 billion.

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