Reported 2 months ago
Shell's second-quarter profit dropped to $6.3 billion, a 19% decline from the previous quarter, as refining margins and trading weakened, though it exceeded analysts' expectations. This marks a 25% increase year-over-year, highlighting CEO Wael Sawan’s cost-cutting measures. The company plans to buy back $3.5 billion in shares and maintained its dividend at 34 cents per share, despite challenging market conditions and a forecast of lower production in the third quarter.
Source: YAHOO