Shell reports strong third-quarter revenue of $71 billion and plans continued buybacks

Shell PLC reported strong third-quarter revenue of $71.09 billion, surpassing expectations of $61.34 billion. Total production in Integrated Gas decreased by 4%, while Upstream production increased by 2%. Analysts noted that the earnings beat was broad-based across key segments, except for the Renewables division. Shell's net debt fell to under $9 billion, the lowest in over a decade. The company plans to continue share buybacks at $3.5 billion per quarter through next year, despite market challenges. Shell shares were trading slightly lower at $67.51.