BP Earnings: Things Are Looking Up for This Oil Giant

Aside from the ups and downs of commodity prices, not much changes from quarter to quarter with massive oil and gas companies like BP (NYSE: BP). In the company's Q2 earnings report, many of the themes we saw last quarter continued: A high rate of production growth from new project start-ups and improving cash flow from reduced breakeven prices. 

Unfortunately, the company's earnings didn't completely reflect these trends because of several income charges. Let's sift through the nuances of BP's income statement to get a better idea of how the business is doing and how management plans to maintain these trends of growth and profitability.

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Source: Fool.com