By Jaime Llinares Taboada

 

Royal Dutch Shell PLC on Thursday reported that its net profit fell in the second quarter from the immediately prior period, and launched a $2.0 billion buyback.

The Anglo-Dutch energy company made a net profit of $3.43 billion for the three months to June, down from $5.66 billion in the first quarter.

However, adjusted earnings on a current cost of supply basis rose to $5.53 billion from $3.23 billion, beating a market consensus of $5.07 billion--taken from Vara Research and based on 21 analysts' estimates.

In addition, Shell said it will paid a dividend of 0.24 cents a share for the period, and launched a $2.0 billion share buyback, which is targeted to be completed by the end of 2021.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

July 29, 2021 02:33 ET (06:33 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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