BP (NYSE:BP) today reported its financial results for the first quarter, revealing a profit that missed analyst forecasts.
The London-based oil and gas company posted a net income of $687 million, equivalent to 26 cents per share.
After adjusting for non-recurring items, earnings came in at 53 cents per share.
This figure fell short of Wall Street expectations as the average estimate from six analysts surveyed by Zacks Investment Research was for adjusted earnings of 56 cents per share.
Some reports indicated that weaker performance in gas trading and refining contributed to the miss.
Meanwhile, BP generated $47.88 billion in revenue during the period.
In conjunction with the earnings, BP announced a dividend of 8 cents per share and plans for a $750 million share buyback in the coming quarter.