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Shell profits soar to four-year high but still miss forecasts

By Ron Bousso: 1 November 2018

LONDON (Reuters) – Royal Dutch Shell (RDSa.AS) reported on Thursday an almost 40 percent rise in third-quarter profit to $5.6 billion (£4.3 billion), as rising crude prices helped quarterly earnings to their highest in four years but still short of forecasts.

Net income attributable to shareholders in the quarter, based on a current cost of supplies (CCS) and excluding identified items rose 39 percent to $5.624 billion from a year ago. That compared with a company-provided analysts’ consensus of $5.766 billion. It was $4.691 billion in the second quarter.

Cash flow from operating activities for the third quarter 2018 was $12.1 billion.

Reporting by Ron Bousso; Editing by Edmund Blair

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