Oil giant Shell tops quarterly profit estimates as Iran war drives price surge

The oil giant posted adjusted earnings of $6.92 billion for the first three months of the year, beating analyst expectations of $6.1 billion, according to an LSEG-compiled consensus. A separate, company-provided analyst forecast had put Shell’s expected first-quarter profit at $6.36 billion.

Shell reported adjusted earnings of $5.58 billion over the same period a year ago and $3.26 billion over the final three months of 2025.

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