Oil giant Shell beats first-quarter profit estimates, launches $3.5 billion share buyback [MSNBC.com]
Exxon Mobil Corporation (XOM)
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Source: MSNBC.com
In this articleThe Shell logo is displayed outside a petrol station in Radstock on February 17, 2024 in Somerset, England.Matt Cardy | Getty Images News | Getty ImagesBritish oil giantA year earlier, the company posted adjusted earnings$9.6 billion$7.3 billionThe oil major announced a $3.5 billion share buyback program, which it expects to complete over the next three months. Its dividend remains unchanged.Shares of the London-listed stock dipped 0.6% on Thursday morning."Shell has beaten expectations by a reasonable margin, despite the impact of lower gas prices during the first quarter," Stuart Lamont, investment manager at U.K.-based wealth manager RBC Brewin Dolphin, said in a statement." are up, costs have fallen, and the oil and gas major has brought debt down too – all in all, it's a solid set of numbers and underlines why the market, generally, remains bullish on Shell," Lamont said."Investors were looking for reassurance on volumes and capital discipline, as these ultimately
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