Shell's profit beats expectations at $6.9 billion, cuts share buybacks

Shell reported first-quarter adjusted earnings of $6.92 billion, up from $5.58 billion a year earlier and above the $6.36 billion analyst consensus. The result is a clear earnings beat, with adjusted profit rising about 24% year over year. The release should be modestly supportive for Shell shares, though it contains no guidance update.

Analysis

Shell reported first-quarter adjusted earnings of $6.92 billion, up from $5.58 billion a year earlier and above the $6.36 billion analyst consensus. The result is a clear earnings beat, with adjusted profit rising about 24% year over year. The release should be modestly supportive for Shell shares, though it contains no guidance update.