Oil giant Shell's adjusted revenue totaled $7.7 billion in the first quarter of 2024, beating market expectations of $6.5 billion, according to a consensus compiled by the London Stock Exchange Group.
Shell announced its financial results on Thursday with higher refining margins and strong oil trading, which helped the company's profit exceed expectations.
The company's adjusted earnings in this period decreased by 19.8% compared to $9.6 billion in the same period last year.
Shell’s CEO, Wael Sawan, said: “Shell delivered another quarter of strong operational and financial performance, demonstrating our continued focus on delivering more value with less emissions.”
“We continue to deliver on our Capital Markets Day targets, giving us the confidence to commence another $3.5 billion buyback programme for the next three months,” Sawan added.
Reporting by Nuran Erkul Kaya
Writing by Handan Kazanci
Anadolu Agency
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