A Shell gas station. Photo: Miguel Candela/SOPA Images/LightRocket via Getty Images

"Royal Dutch Shell Plc came through a quarter of volatile oil prices to beat earnings estimates, delivering a surge in cash flow the company said will underpin 'world-class' returns to investors," Bloomberg reports.

By the numbers: The company on Thursday announced a $5.7 billion fourth quarter profit and a full-year profit haul of $21.4 billion.

  • The full-year number is a 36% jump from 2017.
  • Cash flow from its operations was $22 billion for the quarter.

The big picture: Via the Wall Street Journal, "The results reflect a broader effort by the energy industry to be profitable with oil prices at $60 a barrel or lower following the downturn."

What's next: Exxon and Chevron report their earnings tomorrow morning.

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Updated 48 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 20,188,678 — Total deaths: 738,668 — Total recoveries: 12,452,126Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 5,138,850 — Total deaths: 164,480 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten scraps fall football season.

Voters cast ballots in Minnesota, Georgia, Connecticut, Wisconsin and Vermont

Photo: Spencer Platt/Getty Images

Primary elections are being held on Tuesday in Minnesota, Georgia, Connecticut, Vermont and Wisconsin.

The big picture: Georgia and Wisconsin both struggled to hold primaries during the coronavirus pandemic, but are doing so again — testing their voting systems ahead of the general election. Rep. Ilhan Omar (D-Minn.) is facing a strong challenger as she fights for her political career. In Georgia, a Republican primary runoff pits a QAnon supporter against a hardline conservative.

3 hours ago - Health

Trump administration buys 100 million doses of Moderna's vaccine

A volunteer in Moderna's vaccine clinical trial receives a shot. Photo: Paul Hennessy/NurPhoto via Getty Images

The U.S. government has agreed to buy 100 million doses of Moderna's experimental coronavirus vaccine for $1.5 billion, or $15 per dose.

Why it matters: The Trump administration, through Operation Warp Speed, has now bought initial batches of vaccines from Moderna, GlaxoSmithKline and Sanofi, Pfizer, Novavax, Johnson & Johnson and AstraZeneca before knowing whether they are safe and effective. The federal government also appears to own some of the patent rights associated with Moderna's vaccine.