Shell Realizes Fall in Q3 Adjusted Net Profit

.

Shell Realizes Fall in Q3 Adjusted Net Profit

Royal Dutch Shell, the energy giant, has recently reported that it had to face volatile energy markets this year and the same has though made it realize a 2% increase in its Q3 net profit. The same has made it fall by some 6% in terms of adjusted net profit as compared to the figures noted at this point of time last year.

It has been told that where the net profit has been noted at $7.139 billion for three months ending September, the adjusted profit was $6.56 billion. Adjusted net profit is a key measure that helps in identifying changes in the value of stocks as well as other non-operating items, the report finds in the meantime.

The company further says that group revenues have also declined to $115.43 billion i. e. by 8.4% in the third quarter. But, it is being said that despite a fall in the adjusted net profit, the oil and gas company has realized a rise over market expectations that some $6.31 billion profit would be realized.

"Our earnings were driven by lower oil and gas prices, chemicals margins, which offset the benefits of our operating performance, underlying growth in production, and higher results in integrated products" sources quoted Chief Executive Peter Voser as affirming.


Latest News

Google announces the launch of Android 7.0 ‘Nougat’
Lyft seeking $9B buyout, Uber not willing to pay more than $2B
Recode: Lyft had recently sought $9B in buyout offer
Uber signs $300M deal with Volvo; acquires startup Otto
Instagram introduces new ‘Event Channel’ feature
Ford plans to build a fleet of fully autonomous vehicle by 2021
WSJ: Google is exploring the use of wireless technology for Fiber service
Hacker ‘Guccifer 2.0’ leaks a new set of internal Democratic Party documents
DEA not Reconsidering How Marijuana is Treated under Federal Drug Control Laws
SpaceX Falcon 9 Rocket Launch on Sunday: Rocket to Take JCSAT-16 Communications
Apple’s MacBook Pro laptops will reportedly get a massive update soon
Google: ‘Quadrooter’ vulnerability is not a massive security threat