Shell beats expectations with $10.8 billion profit, hikes buybacks

LONDON, Oct 29 (Reuters) - Shell on Thursday announced above-expectation net profit of $10.81 billion in the third quarter, its highest since 2022, and boosted its share buybacks on the back of stronger refining margins and higher liquefied natural gas prices. 

The average estimate in a company-provided poll of analysts was $10.33 billion, almost double Shell’s profit a year ago of $5.43 billion.