British energy giant BP Plc (BP, BP.L) reported a surge in first-quarter profit attributable to BP shareholders to $16.86 billion, from last year's $5.77 billion, with replacement cost profit attributable to BP shareholders climbing to $16.6 billion, from $4.78 billion reported a year back.
However, adjusted for non-operating items and fair value accounting effects, underlying replacement cost profit was $4.21 billion, down compared with $4.7 billion a year ago.
On a per share basis, profit for the period totaled 87.61 cents, up sharply from 29.97 cents in the prior-year quarter, and profit per ADS jumped to $5.28, from $1.82 in the earlier year period. Quarterly replacement cost profit per ordinary share soared to 86.67 cents, from 25.19 cents, while underlying replacement cost profit per ordinary share slid to 22.01 cents, from the prior year's 24.51 cents.
However, sales and other operating revenues stood at $94.11 billion, versus $94.88 billion in the year-ago quarter. Further, BP announced a quarterly dividend of 9 cents a share, to be paid in June.
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