=BP PLC (BP) reported earnings on Tue 7 Feb 2017 (b/o)

• BP misses 4Q profit forecasts

LONDON (AP) _ BP PLC (BP) on Tuesday reported fourth-quarter net income of $497 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the London-based company said it had net income of 16 cents. Earnings, adjusted for non-recurring gains, were 13 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The oil and gas company posted revenue of $52.12 billion in the period.

For the year, the company reported net income of $115 million, or 4 cents per share, swinging to a profit in the period. Revenue was reported as $186.61 billion.

BP shares have declined 4 percent since the beginning of the year. The stock has risen 17 percent in the last 12 months.