Royal Dutch Shell

Shell reports $5.3 billion in profits, 7% lower than Q1 of 2018

In this image, a phone with the Shell logo is held up to the camera. Lights and numbers are in the background.
Photo: Alvin Chan/SOPA Images/LightRocket via Getty Images

Royal Dutch Shell joined other majors in reporting a drop in Q1 profits, but the company's stock ticked upward Thursday after the performance came in ahead of expectation.

The bottom line: Shell reported $5.3 billion in profits on a current cost of supplies basis, which is 7% lower than Q1 of 2018.

The shifting climate battle over Big Oil

In this image, a Shell brand tanker sits in front of a plant on a cloudy day.
Royal Dutch Shell said it's quitting a major lobbying group, American Fuel & Petrochemical Manufacturers. Photo: Jeff J. Mitchell/Getty Images

These are split-screen times for shareholder advocates pushing the world's most powerful oil companies to do more on global warming.

Driving the news: Axios' Amy Harder reported yesterday that the SEC granted ExxonMobil's request to throw out a shareholder resolution urging the oil giant to disclose targets for steeply cutting emissions.