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Shell’s annual revenue of $40 billion was a document.
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Shell
,
the oil and fuel large, posted a document annual revenue of $40 billion and introduced a brand new $4 billion share buyback program Thursday, sending the inventory larger.
British power large
Shell
(ticker: SHEL.U.Okay.) reported adjusted earnings per share of $1.39 within the closing three months of 2022, beating analysts’ consensus of $1.15, in keeping with FactSet. Revenue rose 19% to $101.3 billion, topping estimates of $94.3 billion.
The earnings beat got here regardless of decrease oil and fuel costs within the fourth quarter, as pure fuel buying and selling outcomes proved robust.
The fourth quarter wrapped up a stellar 12 months for the world’s largest oil-and-gas corporations, characterised by excessive power costs on account of Russia’s invasion of Ukraine. It was no completely different for
Shell
,
which reported adjusted annual earnings of $39.9 billion, the very best in its 115-year historical past.
The inventory climbed 1.9% in early London buying and selling and has gained 3.7% up to now in 2023. American depositary receipts of Shell pointed greater than 2% larger in premarket buying and selling.
Write to Callum Keown at [email protected]
www.barrons.com
