Shell reports 18% rise in quarterly profit, beating forecasts

Royal Dutch Shell reported an 18 percent rise in underlying net profit for the third quarter on Tuesday, beating analysts' forecasts as it announced next year's capital spending will be at the bottom of the expected range.

Net income in the quarter, based on a current cost of supplies (CCS) and excluding exceptional items, rose to USD 2.8 billion, which the company said compared with analysts' expectations of USD 1.71 billion.

Shell disappointed the market with its second-quarter results, the first full quarter following the completion of the BG acquisition in February, by missing expectations by around 50 percent.

Shell said its 2017 capital spending was expected to be at around USD 25 billion, at the bottom of the range previously provided. This year's capex will be around USD 29 billion.