Shell’s profit in the first quarter exceeded forecasts – Kommersant
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Today, May 4, the British oil and gas company Shell introduced financial statements for the first quarter. Its profit during this period grew by 6.6%, amounting to $9.7 billion. This result was better than the expectations of analysts surveyed by Refinitiv – $8.6 billion. At the same time, it turned out to be slightly lower record quarterly profit achieved by Shell in the fourth quarter – $ 9.8 billion.
Shell also told shareholders that the dividend would remain unchanged at $0.2875 per share. The company also confirmed the continuation of the $4 billion share buyback program for the next quarter.
Earlier, a number of other large oil and gas companies presented good results for the quarter, which exceeded analysts’ expectations: BPExxonMobil, and others. Oil and gas companies continue to benefit from strong energy demand and price fluctuations, although in most cases, first-quarter performance falls short of the record results of the last quarter of 2022.
Shell shares after the publication of financial statements rose by 2.7%.
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