Shell Q1 Results Down; Plans $3.5 Bln Share Buyback
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Shell Plc reported a decline in Q1 profits, with income before taxation falling to $8.96 billion from $11.04 billion last year. The company announced a $3.5 billion share buyback program aimed at reducing issued share capital, expected to complete before the Q2 results on July 31. Revenues dropped to $69.23 billion from $72.48 billion, and adjusted earnings fell to $5.58 billion from $7.73 billion in the previous year.
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