By Oliver Griffin

 

Royal Dutch Shell PLC (RDSB.LN) reported its results for the first quarter of 2019 on Thursday. Here's how it came in:

 

EARNINGS: Shell reported a profit for the three months ended March. 31 on an adjusted net current cost-of-supplies basis--a figure similar to the net income that U.S. oil companies report and which strips out certain items--of $5.3 billion. While down on the year-earlier period, it beat a consensus estimate from 23 analysts compiled by Vara Research that forecast $4.54 billion.

 

REVENUE: Shell reported first-quarter revenue of $83.74 billion, down 6.2% on the previous year. A consensus estimate from three analysts supplied by FactSet had forecast the Anglo-Dutch oil company's revenue at $82.2 billion.

 

WHAT WE WATCHED:

 

-BUYBACKS: Shell launched its latest tranche of buybacks and racked up the figure to $2.75 billion. The company launched a $25 billion buyback program last year and the previous tranche had been worth $2.5 billion.

-INTEGRATED GAS: Total gas production slipped 12% as a result of previous disposals, as previously advertised by Shell. However, the divisions cash flow from operations rose 65% to $4.23 billion, boosted by rising realized prices in gas and liquefied natural gas.

 

Shares at 0942 GMT were up 2.5% at 2,489 pence.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

May 02, 2019 06:07 ET (10:07 GMT)

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