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Shell shares rise after buyback statement but earnings down
May 03, 2025
|The Journal
SHELL reported a significant drop in profits for the first quarter yesterday, as crude oil prices weakened due to geopolitical uncertainty.
The FTSE 100 oil behemoth posted adjusted earnings of $5.58bn (£4.2bn) for the first three months of the year.
Although this exceeded analyst predictions of $4.96, it represented a considerable decline from the $7.73bn reported for the same period last year.
Shares in the energy company increased by over 2% during early trading yesterday.
Crude oil hit a quarterly high on January 15, prior to President Donald Trump's inauguration, at $82 per barrel.
However, it fell in the subsequent months and settled around $75 on March 31.
The reporting period narrowly missed Trump's sweeping 'Liberation Day' tariffs on trading partners, which caused oil prices to plummet.
هذه القصة من طبعة May 03, 2025 من The Journal.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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