Oil giant Shell posts $6 billion profit beat, launches new share buyback program
Publishing timestamp: 2024-10-31 12:59:23
Summary
Shell reported adjusted earnings of $6 billion for the July-September period, beating analyst expectations. The company will buy back $3.5 billion of its shares over the next three months, while keeping its dividend unchanged. Despite a drop in profit, Shell's third-quarter results were better than expected, with strong operational performance and a focus on LNG. However, the company faced criticism for decreasing investments in renewables and energy solutions.
Sentiment: MIXED
Keywords: oil and gas, united kingdom, shell plc, earnings, energy, business news, breaking news: markets, business, breaking news: europe,
Source: https://www.cnbc.com/2024/10/31/shell-earnings-q3-2024.html