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Stock Market News

Shell reports record profit of $11.5 billion

07/28/2022

Less than a minute

2022.07.28 09:30

Shell reports record profit of $11.5 billion
FILE PHOTO: General view of a Shell petrol station sign in Milton Keynes, Britain, January 5, 2022. REUTERS/Andrew Boyers/File Photo GLOBAL BUSINESS WEEK AHEAD

LONDON (Reuters) – Shell (LON:RDSa) on Thursday reported a profit of $11.5 billion for the second quarter, beating expectations, lifted by strong refining profits and energy prices.

The company also announced a share buyback programme of $6 billion in the third quarter.

Second-quarter adjusted earnings rose to $11.47 billion, above the $11 billion forecast by analysts in a poll provided by the company.

It posted a profit of $5.5 billion a year earlier and of $9.1 billion in the first three months of 2022.

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07/28/2022

Less than a minute