LONDON, April 28 (Reuters) - BP reportedfirst-quarter profit of $2.58 billion on Tuesday, largelybeating expectations, as a hefty increase in refining revenueoffset a slump in oil production earnings.
The company's first-quarter underlying replacement costprofit was expected to come in at $1.28 billion, according toanalyst concensus figures provided by the company, down from$3.22 billion a year earlier and $2.24 billion in the fourthquarter of last year. (Reporting by Ron Bousso; Editing by David Goodman)