Higher oil prices helped lift second-quarter earnings above analyst expectations as the Spanish energy company said it would buy back up to €500 million of its own shares.
Repsol said its second-quarter adjusted net profit more than tripled to €1.84 billion from €598 million a year earlier, helped in part by higher oil prices and coming in above analysts’ expectations of €1.63 billion, according to a company-compiled consensus. The Spanish energy company also said it would buy back up to €500 million of its own shares.