Dow Jones Newswires: BP profit slows, but beats forecasts as it plans $1.75 billion more buybacks

United States

BP on Tuesday reported a rise in first-quarter underlying replacement cost profit, beating expectations, and declared an additional $ 1.75 billion share buyback.

The British oil-and-gas major BP UK:BP made an underlying replacement cost profit of $ 4.96 billion in the three months through to the end of March, up from $ 4.81 billion in the previous quarter but below the $ 6.25 billion in the first quarter of 2022.

This…