BP reports net profit at $100 million in Q3 on stronger oil prices

BP on Tuesday reported a third-quarter underlying replacement cost profit, its definition of net income, of $100 million, compared with a forecast of a loss of $120 million in a company-provided survey of analysts.

The London-based company said that while fuel demand in Asia, particularly in China, was recovering, global consumption remained weak so far in the fourth quarter.
 

HSBC Q3 profit tumbles 35 per cent

HSBC Holdings posted a 35 per cent drop in quarterly profit, better than expected, as higher loan loss provisions on the economic fallout from the coronavirus pandemic were cushioned by the reining in of expenses. Reported pretax profit for Europe's biggest bank by assets came in at $3.1 billion for the quarter ended Sept. 30, down from $4.8 billion in the same period a year earlier.