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(Corrects to show forecast was for a $360 million profit (not
loss), paragraph 3)
By Ron Bousso and Shadia Nasralla
LONDON, Feb 2 (Reuters) - BP's fourth-quarter profit sank to
$115 million, missing analysts' forecasts, pummelled by
continued weak energy demand due to the coronavirus epidemic and
weak trading results.
On annual basis, BP sunk to a loss of $5.7 billion, its
first in a decade after it wrote down the value of oil and gas
assets by $6.5 billion as a result of sharply lowering its
long-term energy prices.
Its fourth-quarter underlying replacement cost profit, the
company's definition of net income, of $115 million fell short
of the $360 million seen in a company-provided survey of
analysts.
That compared with a $86 million profit in the third
quarter and a profit of $2.6 billion a year earlier.
(Reporting by Ron Bousso and Shadia Nasralla; editing by
Kirsten Donovan and Jason Neely)
