BP Reports Strong Rise In Q3 Net Income

BP Plc BP reported a strong rise in its third-quarter net income. BP reported its quarterly profit at $4.91 billion, or $1.55 per American depositary share, up from $1.79 billion, or $0.57 per ADS, in the year-ago quarter. Its replacement-cost profit came in at $5.14 billion, or $1.63 per ADS. BP's adjusted replacement-cost profit came in at $5.3 billion. BP's revenue climbed 31% to $97.6 billion from $74.65 billion. BP shares dropped 4.73% to $43.82 in pre-market trading.