THE NEW YORK TIMES
Shell Reports $9.6 Billion Profit, Despite Falling Oil Price
6:04 a.m. E
: Reporting from London: May 4, 2023,Shell, Europe’s largest energy company, said Thursday that its profit jumped 6 percent in the first quarter to $9.6 billion, a sign that the company remains hugely profitable, even with oil prices under pressure.
The company’s earnings, adjusted for items like divestitures, were below the record of $11.5 billion set in the second quarter of 2022, but they still exceeded analysts’ forecasts.