What caused BP's earnings to rebound in Q4?

BP's earnings rebounded in Q4 2024, despite previous quarter's decline, due to Oil Production & Operations segment performance. Here's a detailed analysis:

1. Revenue by Business Segment: BP's revenue was largely driven by the Oil Production & Operations segment, contributing $2.4 billion. This segment's performance was critical in boosting overall earnings.

BP Revenue By Business

Date	Business Composition	Revenue By Business
20240101-2024	Other Businesses and Corporate	658.00M
20240101-2024	Other Businesses and Corporate	393.00M
20240101-2024	Other Businesses and Corporate	354.00M
20240101-2024	Oil Production & Operations	519.00M
20240101-2024	Customers & Products	39.60B
20240101-2024	Other Businesses and Corporate	354.00M
20240101-2024	Gas & Low Carbon Energy	8.41B

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2. Earnings Surprise: Although BP missed revenue expectations, it surpassed earnings per share (EPS) estimates, with an EPS of $1.00, compared to the estimated $0.92. This positive surprise contributed to the earnings rebound.
3. Cost Management: BP's ability to manage costs effectively likely played a role in improving profitability. The company's focus on reducing expenses has been a key factor in maintaining profitability despite challenging market conditions.

In conclusion, BP's Q4 earnings rebound can be attributed to strong performance in the Oil Production & Operations segment, a positive earnings surprise, and effective cost management. These factors combined to help BP achieve better financial results in the quarter.