"LONDON — BP returned to profitability with a better-than-expected third-quarter profit, prompting the oil giant to raise its dividend."
"'Overall this is a much better result than the poor second quarter,' said Stuart Joyner, an analyst at Investec in London.
The company posted earnings of $5.4 billion for the three months ending on Sept. 30. That compared with a loss of $1.4 billion loss in the previous quarter, when the company took writedowns on the value of its U.S. refineries and other assets. It was also a slight improvement on the $5 billion BP earned in last year’s third quarter. "
Stanley Reed reports for the New York Times October 30, 2012.
Source: NY Times, 10/30/2012
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