BP Shares Soar on Better-Than-Expected Q4 2019 Earnings
At this point in earnings season, everyone was aware that British oil and gas giant BP (NYSE: BP) was likely to report reduced revenue and sharply lower earnings compared to the year-ago quarter. But the company's fourth-quarter 2019 results, which it released on Feb. 4, beat those low expectations.
Revenue was indeed down, and earnings down sharply, but they were better than analysts were expecting, which caused a jump in shares. Here's what investors need to know.
BP's production was up, but it still fell victim to lower energy prices. Image source: Getty Images.
Source Fool.com
