Shell Q2 earnings surpass expectations at $6.3bn, share buyback programs announced.

Shell reported stronger-than-expected second-quarter earnings of $6.3bn, beating market expectations of $5.9bn, with lower fossil fuel prices and refining margins offset by stronger profit margins and total volumes in its marketing division. The company announced a $3.5bn share buyback program for the next three months and affirmed plans for a further £2.7bn share buyback program. Despite the slowdown in earnings, Shell's net debt was reduced by $2.2bn to $38.3bn during the quarter.

August 01, 2024
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