- BP (BP): Q2 adjusted net profit drops to $2.71B from $3.6B a year ago and misses expectations of $3.41B.
- $20B Gulf of Mexico oil spill compensation fund has just $300M left, with costs for provision increasing by $1.4B.
- Claims beyond that which the fund can pay will come from future profits.
- Results also hurt by falling oil prices, a higher tax rate and lower income from Russia. (PR)
Check out Seeking Alpha’s new Earnings Center »
From other sites
The Zacks Analyst Blog Highlights: Transocean, Kinder Morgan, BP, Williams Partners and Eni - Press Releasesat Zacks.com (Apr 8, 2015)
at Zacks.com (Mar 26, 2015)
at MarketRealist.com (Mar 23, 2015)
The Zacks Analyst Blog Highlights: Exxon Mobil, Chevron, BP, Royal Dutch Shell and TOTAL - Press Releasesat Zacks.com (Mar 19, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs