BP beats earnings estimates

While BP posted a decrease in third-quarter earnings, the results topped analysts' expectations.

Net income fell to $933 million from $1.8 billion a year earlier. However, it beat estimates of $780 million.

BP, which plans to lay off around 7,000 workers by the end of next year, reported it expects further costs tied to redundancies and other restructuring measures next year. That adds to some $2.1 billion in charges incurred since the end of 2014.

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