LONDON: Shell on Thursday reported first-quarter adjusted earnings of $7.7 billion, sharply beating expectations, on the back of strong oil trading and higher refining margins.
The oil major announced it will repurchase a further $3.5 billion of its shares over the next three months, at a similar rate to the previous quarter. Its dividend remained unchanged.
Analysts had expected first-quarter adjusted earnings of $6.46 billion, against $9.65 billion a year earlier.
It had posted $7.3 billion in the fourth quarter of 2023, boosted by strong LNG trading results. - Reuters
