
BP reported third-quarter underlying replacement cost profit of $8.5 billion, nearly quadrupling year-on-year and beating analyst forecasts due to volatile energy markets and high refining margins.
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BP reported $8.5 billion in underlying replacement cost profit, up from $2.2 billion a year ago.
BP smashed third-quarter expectations on Friday, as volatile energy markets and high refining margins saw profits nearly quadruple year-on-year.
The company reported $8.5 billion in underlying replacement cost profit, used as a proxy for net profit. That was above the $6.191 billion forecast by analysts in an LSEG-compiled consensus and up from $2.2 billion a year ago.

Amazon and Intel shares dropped in premarket trading after reporting disappointing September quarter numbers, dragging Nasdaq futures down 2% amid growing investor anxiety over massive AI spending and negative free cash flow.

BP reported $8.5 billion in Q3 underlying replacement cost profit, beating analyst forecasts of $6.191 billion as volatile energy markets and high refining margins boosted earnings.

India's Ministry of Finance has raised its FY27 growth forecast to 7.3%, citing strong domestic indicators. Despite this, the government warns of inflationary pressures, currency volatility, and risks from the El Nino weather phenomenon and global instability.

Alphabet shares fell 13% after reporting negative free cash flow and missing search ad revenue targets. Microsoft shares remained flat as investors evaluated capital expenditures and AI investment returns in the latest quarterly earnings reports.

Non-tech firms, particularly in healthcare and banking, are offering higher salaries for software engineers than tech companies. This shift follows a wave of layoffs in the tech sector and an increased corporate focus on integrating AI technologies.

Alphabet shares fell 11% in premarket trading after reporting negative free cash flow, while Microsoft shares rose 4% as capital expenditures stayed below analyst projections. Investors are scrutinizing AI spending and returns for both tech giants.