by Catherine Neilan: 29 Oct 2015
Royal Dutch Shell’s share price tumbled this morning after it revealed a third quarter loss of $7.4bn (£4.8bn) as the company gets to grips with the falling oil price.
The Anglo-Dutch oil giant posted its dramatic loss on the back of nearly $8bn-worth of exceptional items. Adjusted net income fell to $1.77bn, missing expectations that had put the figure at $2.92bn.
Shell posted a CCS earnings loss of $6.12bn, 216 per cent lower than the same time last year.
Cash flow from operating activities for the third quarter 2015 was $11.2bn, down from $12.8bn for the same quarter last year. Meanwhile gearing has increased to 12.7 per cent, up from 11.7 per cent at the same point in 2014.