By Jaime Llinares Taboada
Royal Dutch Shell PLC on Thursday reported that its net profit fell in the second quarter from the immediately prior period, and launched a $2.0 billion buyback.
The Anglo-Dutch energy company made a net profit of $3.43 billion for the three months to June, down from $5.66 billion in the first quarter.
However, adjusted earnings on a current cost of supply basis rose to $5.53 billion from $3.23 billion, beating a market consensus of $5.07 billion--taken from Vara Research and based on 21 analysts' estimates.
In addition, Shell said it will paid a dividend of $0.24 a share for the period, and launched a $2.0 billion share buyback, which is targeted to be completed by the end of 2021.
Write to Jaime Llinares Taboada at email@example.com; @JaimeLlinaresT
Corrections & Amplifications
This story ws corrected at 0735 GMT. The original incorrectly said the dividend is 0.24 cents. Dividend declared was $0.24.
(END) Dow Jones Newswires