The energy giant reported a $9.8bn net profit for April-July, surpassing estimates and doubling year-ago figures amid higher oil prices.
Shell announced a $9.8bn net profit for the April-July period, more than double the $4.1bn recorded in the same quarter last year. The surge was driven by elevated oil prices and strong trading volumes linked to geopolitical tensions, including the Iran conflict.
Analysts had expected a lower profit figure, with consensus estimates around $8.5bn. The company also confirmed it will maintain its $3bn quarterly share buyback program, signaling confidence in sustained cash flow.
Shares rose 2% to 3,376.00p in early London trading following the announcement.