Shell will shower its shareholders with another $3.5bn (£2.8bn) in share buy-backs over the next quarter after reporting better than expected profits of almost $8bn for the first three months of the year. The company reported adjusted earnings of $7.7bn for the first quarter, below the $9.6bn earned in the same quarter last year but well above analyst predictions of $6.5bn. Shell’s chief executive, Wael Sawan, said the results had given the company the confidence to start another $3.5bn buyback programme for the next three months. Its shareholder payouts in the first quarter came to $5bn, of which $2.2bn was dividend payments and $2.8bn was share buy-backs. The oil company, which handed its shareholders $23bn in payouts last year, had one of its most profitable years on record in 2023 when it reported better than expected profits of more than $28bn for the year. Related: Big five oil companies to reward shareholders with record payouts Despite the shareholder payouts the oil company faces growing pressure from some shareholders to address its carbon emissions. A group including French asset manager Amundi, insurance giant Axa, and the UK government’s National Employment Savings Trust (Nest) have warned Shell that is not aligned with...