LONDON (Reuters) – Shell reported on Thursday third quarter profits of $6 billion that exceeded forecast by 12% as weaker refining and oil trading results were offset by higher gas sales.
Shell’s adjust earnings, its definition of net profit, fell 4% from the previous three months and compared with analysts’ expectations of a $5.36 billion profit.
The company said it will buy back a further $3.5 billion of its shares over the next three months, at a similar rate to the previous quarter. Its dividend remained unchanged at 34 cents per share.
(Reporting by Ron Bousso; editing by Jason Neely)