Loading...
Loading...
Royal Dutch Shell
RDS, Europe's largest oil company, said its first-quarter profit jumped 22% to $6.9 billion . On adjusted basis, Shell earned $6.29 billion, topping the consensus estimate of $5.87 billion.
Shell, which last year reversed seven years of falling production, is planning to spend $100 billion through 2014 to bolster oil output. The company is looking to boost production to 3.7 million barrels of oil equivalent a day by 2014, Bloomberg News reported.
Shell's impressive jump in first-quarter profits compares to a 2% drop posted by primary rival BP
BP, Europe's second-largest oil company. Eni SpA
E posted a 6% increase in first-quarter profits.
Shell said its first-quarter dividend on its U.S.-listed shares will be 42 cents a share, the same as the company paid in the first quarter of 2010.
"We continue to make good progress in implementing our strategy; improving near-term performance, delivering a new wave of production growth, and maturing the next generation of growth options for shareholders," Shell CEO Peter Voser said on the company's Web site.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in