Oil spill? What Oil Spill? BP Stronger than Ever

BP (NYSE: BP) reported that it would be raising its quarterly dividend after reporting a 38 percent increase in profits to $7.69 billion, nearly doubling analyst expectations of $4.9 billion profits. For 2011, the company's profit climbed to $39.8 billion, even after the company paid $14.5 billion to the Gulf Trust fund in response to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. The company's annual EPS reached $26 for 2011, slightly behind analyst expectations.Revenues grew 15 percent to $96.3 billion, but analysts and the market are disappointed with the company's net income discounting exceptional charges and gains, which was just $5 billion, largely in line with analyst expectations. The company delivered around $7.2 billion at the level of operations, whereas analysts had hoped for slightly more, while end-year debt of $29 billion exceeded analysts' hopes. This is a high figure when compared to the company's working capital of $6 billion, although with cash flow reaching $22 billion for ...

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