The British energy giant posted earnings of $3 billion on Tuesday (February 6), beyond projections of $2.77 billion.
BP said the results reflected strong gas trading and higher oil and gas prices.
That offset negatives including lower refining margins and weak oil trading.
BP also boosted share repurchases and vowed to make pragmatic investments, in moves to soothe investor concern over its energy transition plans.
Traders liked the update, sending shares more than 5% up in early trades.
Now the earnings are a relief for recently appointed CEO Murray Auchincloss.
The company had missed forecasts by a wide margin over the previous two quarters.
Auchincloss replaced former boss Bernard Looney, who suddenly stepped down last year over a scandal.
The new CEO told Reuters BP was still committed to reducing oil and gas output.
It also wants to grow renewables and low-carbon businesses by the end of the decade.
But he said BP would pragmatically adapt to what's happening along with demand in society.
