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Oil giant Shell posts full-year profit beat, announces $3.5 billion share buyback - TL;DR CNBC

Oil giant Shell posts full-year profit beat, announces $3.5 billion share buyback

Publishing timestamp: 2024-02-01 04:29:37


Summary

Shell reported a 29% drop in full-year profit but beat expectations with adjusted earnings. The company announced a 4% increase in dividend and a $3.5 billion share buyback program. Shell's CEO emphasized the company's focus on balance sheet strength, shareholder distributions, and commitment to net-zero emissions. Analysts believe Shell will continue to be resilient in a volatile energy market.


Sentiment: MIXED

Tickers: SHEL-GBTTE-FR@LCO.1@CL.1CVXBPXOM

Keywords: energytotalenergies seearningsbreaking news: europeoil and gasbusiness news

Source: https://www.cnbc.com/2024/02/01/shell-beats-expectations-for-full-year-2023-profit.html


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