Royal Dutch Shell Q1 Profit Drops

reported a drop in its profit for the first quarter. Income before taxation slipped to $5.84 billion from $8.55 billion, while income attributable to shareholders dropped to $4.43 billion from $4.51 billion. EPS dropped to $0.69, versus $0.72. Royal Dutch Shell's quarterly profit on a current cost-of-supplies basis climbed to $4.76 billion. CCS earnings, excluding items, declined to $3.2 billion, versus $7.3 billion. Its revenue slipped to $65.71 billion, compared to $109.66 billion. Its production from the upstream segment declined 2 percent to 3.17 million barrels of oil equivalent a day. For the second quarter, the company projects production to drop by around 400,000 barrels of oil a day from the year-ago quarter. Royal Dutch Shell declared a dividend of $0.47 per share. Royal Dutch Shell shares rose 1.06 percent to $64.17 in pre-market trading.