AMD to Report Fiscal First Quarter 2024 Financial Results

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Shell smashes expectations with $7.7 bln Q1 profit
STORY: Oil giant Shell comfortably beat expectations in the first quarter.The London-listed firm reported first-quarter profit of $7.7 billion on Thursday.It credited strong oil trading and higher refining margins.CEO Wael Sawan said Shell delivered a strong quarter, while also keeping its focus on delivering more value with less emissions.Shell's performance outdid rivals.Last week, Exxon, Chevron and TotalEnergies all reported a drop in profits from a year earlier.They faced a sharp downturn in natural gas prices.Shell's chemicals and products divisions was a particularly strong performer.It saw a more-than-threefold rise in adjusted earnings from the previous quarter to $2.8 billion.Though Shell said the results were offset by a weaker showing from its liquefied natural gas trading business as sales there dropped 7%.The company also announced it will repurchase $3.5 billion of its shares over the next three months.Its stock has gained about 14% this year.Investors have cheered Sawan's efforts to cut costs and focus the company on its most profitable operations.
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AMD to Report Fiscal First Quarter 2024 Financial Results

Latest stories

Shell smashes forecasts with $7.7 billion quarterly profit

What’s going on with the HSBC share price?

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Shell smashes expectations with $7.7 bln Q1 profit

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